JACKSONVILLE, Fla. – A court-ordered auction of the historic buildings in Downtown Jacksonville is set for Aug. 5, setting up the next chapter in the future of the infamous buildings, according to our news partners at the Jacksonville Daily Record.
The Duval County Clerk of the Courts filed notice of the sale July 8. The sale stems from a foreclosure suit filed by the city of Jacksonville in November 2024 against Laura Trio LLC and Red Oak Capital Fund II LLC.
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The city said Laura Trio LLC, which is affiliated with Trio owner SouthEast Development Group, owed $827,500 in fines for municipal code violations. At the time, the mortgage on the three buildings was assigned to BMG Trio LLC from ROCF II Series, a series of Red Oak Capital Fund Series LLC.
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In February, Indiana-based Becovic Management Group positioned itself to acquire the buildings when it took over the mortgage for the property. The company announced it planned to purchase and renovate the Trio with an adaptive reuse of all three buildings and new construction on the site.
Read more at the Jacksonville Daily Record.