The family of billionaire Shahid Khan secured a $360 million construction loan from Goldman Sachs Group Inc.’s private bank for a planned Four Seasons development in downtown Jacksonville, Florida, an ambitious project with Miami-style asking prices.
The property will consist of a 170-room hotel with 26 condos along the St. Johns River and is slated for completion in 2027. The loan, secured by his daughter’s Shanna Collective and family investment firm Iguana Investments, is the largest on record in Jacksonville, a fast-growing city on Florida’s northern coast with a population that surpassed 1 million in 2024.