J.P. Morgan Asset Management Provides $62.3M Construction Loan For St. Augustine Multifamily Development

The Latigo Group has secured a construction loan from J.P. Morgan Asset Management for the development of a multifamily property in St. Augustine. The property, located at County Road 208 and SR-16, spans 319,400 square feet and consists of 320 units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $62,300,000
• Units: 320
• Square Footage: 319,400
• Lender: J.P. Morgan Asset Management
• Landlord: The Latigo Group
• Brokers: Bercut Smith, Ian Shapiro, Chad Morgan, and Reid Carleton - JLL

The loan, provided by J.P. Morgan Asset Management, will support the construction of the multifamily property owned by The Latigo Group. The deal was facilitated by brokers Bercut Smith, Ian Shapiro, Chad Morgan, and Reid Carleton from JLL.