Florida Luxury Project Lands $360M
It's the largest construction loan for a private development in Jacksonville history.
Shanna Collective and Iguana Investments, developers of the Four Seasons Hotel and Residences Jacksonville, have secured $360 million in construction financing to build out 26 ultra-luxury residences that will be part of the downtown Jacksonville, Fla. waterfront project. Goldman Sachs Private Bank provided the loan, the largest of its kind to be granted for a private project in the city’s history.
Shanna Khan, founder and CEO of Shanna Collective, said in a prepared statement that the construction financing from Goldman Sachs is a defining milestone for the project, which includes a 170-key luxury hotel.
Prices for the 26 residences, which range from two to five bedrooms spanning 1,930 to 7,936 square feet, will start at $4.7 million. Douglas Elliman, the project’s exclusive broker, launched sales in January.
The 10-story hotel and residential project topped off in August 2025 and is slated for a 2027 delivery. Upon completion, the property will include the Four Seasons hotel-branded amenities such as an 11,000-square-foot spa with 12 treatment rooms, a private residents’ lounge with a golf putting simulator, a state-of-the-art fitness center, dedicated kids’ and teens’ spaces and three restaurants led by Michelin-starred talent.
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Located on the St. Johns River, the Four Seasons property will have direct frontage to a 78-slip marina developed on behalf of the City of Jacksonville. It will be capable of accommodating vessels of all sizes.
The development is situated in the heart of Jacksonville’s Sports & Entertainment District, which includes EverBank Stadium, VyStar Veterans Memorial Arena and a three-mile riverwalk. Shahid Khan, who owns the Jacksonville Jaguars, has additional plans for the area including a $1.4 billion stadium renovation, a 150,000-square-foot Class A office building with a fitness center and restaurant and an outdoor event space. Dubbed the Stadium of the Future, the newly remodeled football stadium is slated to open in 2028.
According to Bloomberg, Shannah Khan’s firm, Shanna Collective, will oversee day-to-day operations at the Four Seasons property. Her father’s company, Iguana Investments, is the owner and financial backer.
Hotel-branded residences a hit
The Kahns aren’t the only developers to tap into the burgeoning hospitality-branded residence trend. Last week, a joint venture between CMC Group and Fort Partners closed on a $323.8 million construction loan from Bank OZK to develop Four Seasons Private Residences Coconut Grove, in Miami’s Coconut Grove neighborhood. The 20-story waterfront project is expected to be completed by mid-2028.
Other Four Seasons branded residential projects have been planned for or built in several Florida communities including Palm Beach, Surfside and Fort Lauderdale as well as in Los Angeles, Manhattan, Las Vegas, Nev. and Telluride, Colo.
The luxury properties have been growing in popularity in recent years, as high and ultra-high-net-worth individuals increasingly turn to residences affiliated with hotel brands like Four Seasons and Ritz-Carlton, among others. Often located in resort areas or large coastal cities, the branded-properties enable residents to have the best of both worlds—their own home with the amenities of an luxury hotel.
JLL notes the branded residence landscape now includes hotel and non-hotel brands. JLL states partnerships with automotive and fashion powerhouses have become a vital part of the market, representing more than 55 to 60 percent of new projects.
The September report notes more than 2,000 branded units will be delivered across the globe within the next five years, many of them in Saudi Arabia. In the U.S., Miami has more than 40 branded residence developments constructed or planned. For example, Dezer Development secured a $630 million construction loan in November to develop the first Bentley-branded condominium tower in Sunny Isles Beach, Fla. Bentley Motors, in partnership with REALM-Global, began planning the 216-unit project in 2022.
