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Madison Capital Acquires Jacksonville, Florida Property for Development of Apartment Community
Thursday 22 April 2021

North Carolina, US-based development company Madison Capital Group, LLC has purchased approximately 11 acres in St Johns, Florida to develop Madison Nocatee, a 280-unit apartment complex, the company said.

Terms of the transaction were not disclosed.

The submarket has strong demographics, exceptional in-migration patterns (more accelerated as a result of COVID), and convenient access to downtown Jacksonville.

Construction on the project is expected to commence in 2021.

This is the first development in the Jacksonville area for MCG.

The company currently has similar projects under construction in The Carolinas, Virginia, Tennessee and Florida. Madison currently has 5 other active deals in Florida, located in Orlando, Tampa, and Bonita Springs.

Madison Capital Group, LLC focusses on the development of suburban garden multi-family projects throughout the Southeast with a focus on Nashville, Charlotte, Raleigh and Florida.
Date Published: 22/04/2021