Jaguar’s owner Shad Khan and his Iguana Investments Florida will expand their real estate holdings by buying the Sea Horse Oceanfront Inn and Lemon Bar.

Khan, who has been active in downtown development in the area of the football stadium, said in a statement about the purchase agreement that he envisions the Sea Horse Inn and associated properties will be like what’s in place now with a boutique hotel, restaurant, parking and other public amenities.

“I have great faith in the future of Jacksonville, from downtown to the beaches and all the neighborhoods in between,” he said. “I’ve always appreciated the unique vibe of the Beaches Town Center community, and it means a lot to me to play a small role in the community’s continued growth, just as we are with development of Jacksonville’s downtown riverfront.”

Read the rest of this story at Jacksonville Today news partner The Florida Times-Union.