A group led by Miami-based real estate investor Ramon Llorens bought the 1.48-acre Downtown parking lot by the Omni Jacksonville Hotel, adding to his North Florida holdings.
It is across the street from the Times-Union Center for the Performing Arts.
Llorens, through Amkin Terra LLC, paid $6.83 million for the 317 Water St. property in a sale executed June 29 and recorded Monday with the Duval County Clerk of Courts.
https://www.jaxdailyrecord.com/article/the-mathis-report-miami-investor-buys-downtown-parking-lot-next-to-omni-jacksonville-hotel
One of the most Prime lots for development-as good as a captive audience as you can have with the TU Center and the Omni adjacent to it.
He's purchased a ton of key parcels and properties within the Northbank. It will be interesting to see what he has planned.
Quote from: thelakelander on July 10, 2018, 10:41:48 AM
He's purchased a ton of key parcels and properties within the Northbank. It will be interesting to see what he has planned.
Agreed-a lot of them are near each other too. He seems to have capital to do something large if he wanted to.
So...if someone acquires or purchases property in the urban core of a city, that means they will develop it? Could it just be an investment? I am hoping that they, or him has some type of development interest in mind not only for his own investment acquisition, but also because he or they have a particular interest in downtown Jacksonville and the city as a whole. He could also be purchasing in hopes that someone else wants to buy those properties from him for their own use and/or development.
Quote from: heights unknown on July 10, 2018, 01:51:38 PM
So...if someone acquires or purchases property in the urban core of a city, that means they will develop it? Could it just be an investment? I am hoping that they, or him has some type of development interest in mind not only for his own investment acquisition, but also because he or they have a particular interest in downtown Jacksonville and the city as a whole. He could also be purchasing in hopes that someone else wants to buy those properties from him for their own use and/or development.
Spending $6M+ to use solely as a parking lot charging people for going to shows at the TU Center or Omni people who don't want to use their garage seems like a REALLY long term strategy to make back that $6M. I can't imagine he'd want to spend that sort of money just for a parking lot.
Quote from: Steve on July 10, 2018, 10:45:12 AM
Quote from: thelakelander on July 10, 2018, 10:41:48 AM
He's purchased a ton of key parcels and properties within the Northbank. It will be interesting to see what he has planned.
Agreed-a lot of them are near each other too. He seems to have capital to do something large if he wanted to.
He's got property on the Southbank as well.
I believe he's said in the past that the properties are long-term investments that he's buying to hold, at least for the time being.