Parkland Trail II, Jacksonville, FL

After our initial investment of the 290 acre site on Parkland Trail, MSL doubled down and acquired a 10 acre neighboring property. The purchase price was $500,000. This was an off market transaction offered exclusively to MSL because of our existing relationship with the seller. Market comps were at >3x the purchase price.

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MSL maximized the value of the vacant parcel by securing necessary entitlements and zoning conversion options — realizing the site’s highest and best use.

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The property was sold for $4.2m after 2.5 years.

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The transaction presented MSL with an attractive opportunity to flip a property after a relatively short hold-period and capitalize on the momentum MSL created in the area via its neighboring real estate development of over 290 acres. MSL was able to predict the value of the area prior to any other buyer through our conviction in real estate and our capabilities to maximize existing values.