Jacksonville Jaguars owner Shad Khan paid $36.95 million for the Seahorse Oceanfront Inn in Neptune Beach.
Khan purchased the property Tuesday though Neptune Beach Club LLC. The property will be developed by Khan’s Iguana Investments Florida LLC.
A news release said the inn and its poolside bar, The Lemon Bar, will remain open.
“Iguana plans to redevelop the property as a boutique resort hotel, similar to what is in place now, along with additional amenities and supporting uses. Future resort amenities may include a spa, beach club, fitness center, restaurant, improved Lemon Bar, parking and retail space,” the release said.
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