Shad Khan loaning money to develop historic downtown buildings

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JACKSONVILLE, Fla. - Jaguars owner Shad Khan is getting involved with downtown development.

According to the Financial News and Daily Record, he's loaning money to a developer who is buying four historic downtown buildings.

The deal involves the three buildings of the Laura Street Trio at the corner of Laura and Forsyth streets, and the old Barnett Bank building, which is nearby.

According to the Daily Record, Khan's Stache Investments Corp. is financing the $3 million for the deal.

Developer Stephen Adkins leads the company that's bought the buildings.

He wouldn't comment on Khan's terms for the loan and says more information about the project would be revealed later this month.

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