Barnett National Bank building in Shad Khan's hands after foreclosure auction


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  • | 12:00 p.m. September 14, 2016
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The Barnett National Bank Building is going back to a familiar source.

The 18-story Downtown historic structure reverted back to Stache Investments, owned by Jacksonville Jaguars owner Shad Khan, this morning during a foreclosure auction.

An amount listed shows $50,100 from the plaintiff.

The move comes after a July court order in favor Stache Investments, which loaned developer Steve Atkins $3 million in April 2013 to purchase and renovate the building.

Atkins’ Barnett Tower LLC did not make any payments on the loan, which led to a court battle that began in May 2015 and the auction.

With the principal of the loan, interest and fees, Atkins was found to have owed Stache $4.6 million.

 

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