The purchase of the Seahorse Oceanfront Inn, Lemon Bar and “nearby properties,” will mark Iguana Investments Florida LLC’s first Northeast Florida property investment “beyond the scope of downtown” Jacksonville and the Shipyards, according to a release from the Jaguars.
Khan said in the release that while plans for the property are still in development, he envisions that it will be consistent with what exists today – a boutique beach hotel, restaurant, parking and other public amenities. The Jaguars said that Iguana Investments will engage with stakeholders in the Neptune Beach, Atlantic Beach and Beaches Town Center community as the transaction proceeds through the necessary inspections and due diligence. Following the closing of the sale, Iguana intends to hire a management company to maintain the operations of all properties as they currently exist. Terms and Conditions of the sale agreement are confidential and will not be disclosed.