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Madison Capital Group acquires land in Jacksonville for 280 Apartment units.

Madison Capital Group, LLC has purchased approximately 11 acres in St Johns, FL. The project sits adjacent to Ascension St. Vincent’s $115M newest hospital. The CR 210 corridor is the gateway to the award winning Nocatee master-planned community and Beachwalk which collectively has delivered thousands of luxury homes, over a million sf of new retail amenities, a 14-acre Crystal Lagoon, among many other attractive uses. The submarket boasts strong demographics, exceptional in-migration patterns (more accelerated as a result of COVID), and convenient access to downtown Jacksonville.

The Charlotte-based multifamily company will develop a 280-unit apartment complex called Madison Nocatee. The project will feature four-story buildings and clubhouse. Amenities will include a two-story clubhouse, fitness facility, swimming pool and clubroom.

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 is based in Charlotte, NC and focuses on the development of suburban garden mutli family projects throughout the Southeast with a focus on Nashville, Charlotte, Raleigh, and Florida.