Red Oak Capital Holdings Funds $6.3M Refinance For Downtown Jacksonville Project

The historic Laura Street Trio in Downtown Jacksonville, FL has secured a $6.3 million loan from Red Oak Capital Holdings for a refinance. The mixed-use property, part of a $179-million adaptive reuse project led by SouthEast Development Group, is set to undergo expansion and new construction to accommodate a Marriott hotel, multifamily units, retail spaces, and various amenities.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $6,300,000
• Address: 29 West Duval Street
• Market: Jacksonville
• Lender: Jeff Joyner - Red Oak Capital Holdings
• Landlord: Steve Atkins - SouthEast Development Group
• Loan Type: Refinance
• Loan Terms: Interest-only loan at 11.00% note rate for a one-year term, extendable for six months

Red Oak Capital Holdings, led by Jeff Joyner, and SouthEast Development Group, represented by Steve Atkins, are the key individuals and companies involved in the loan agreement for the historic Laura Street Trio. The loan features an 11.00% interest rate with a one-year term, providing essential financing for the revitalization and transformation of the property as part of a larger-scale redevelopment project.