SECURITIES AND EXCHANGE COMMISSION

                               WASHINGTON, D.C.  20549

                               -----------------------

                                     FORM 8-K

                                  CURRENT REPORT

                        Pursuant to Section 13 or 15(d) of the
                            Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  July 31, 2007

                         PATRIOT TRANSPORTATION HOLDING, INC.
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Exact name of registrant as specified in its charter)


          FLORIDA                   0-17554            59-2924957

   ---------------------      ------------------    ---------------
   (State or other             (Commission File     (I.R.S. Employer
    jurisdiction                Number)            Identification No.)
    of incorporation)


1801 Art Museum Drive
Jacksonville, Florida                                   32207
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(Address of principal executive offices)	     (Zip Code)

Registrant's telephone number, including area code:  (904) 396-5733
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   (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):

[  ] Written communications pursuant to Rule 425 under the Securities
Act (17 CRF 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)



[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))



                         CURRENT REPORT ON FORM 8-K

                    PATRIOT TRANSPORTATION HOLDING, INC.

                              July 31, 2007


ITEM 1.01.    ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

	On July 31, 2007, the Company borrowed $36,000,000 from
Prudential Insurance Company of America.  The non-recourse mortgage
loan fully amortizes on a level term over 20 years and bears interest
at 5.74%.  The loan is secured by seven developed properties with a
net book value of $31,074,000 at June 30, 2007.  A portion of the
proceeds were used to repay balances outstanding under the Company's
Revolver and the remaining proceeds will be used to fund new
construction and to purchase land for future development.


                              SIGNATURES

	Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this Current Report to be
signed on its behalf by the undersigned thereunto duly authorized.

				PATRIOT TRANSPORTATION HOLDING, INC.


Date:  August 6, 2007		By:  /s/ Ray M. Van Landingham

        		      --------------------------------------
				Ray M. Van Landingham
				Vice President, Finance and
                                Administration
        		        and Chief Financial Officer