Updated July 2008

We are always willing to discuss new development opportunities, either through outright purchase, or through utilization of joint venture arrangements. Listed below are our most current areas of interest.

Residential:

Bulk REO packages: Primarily in FL, AZ and TX. We will also consider notes. Generally $10 million to $100 million per package. Please no daisy chains. You must be very close to the seller. Either the seller mandate or one away.  

Single family land: Currently, we are acquiring bulk single family land and/or lots at deeply discounted prices for land banking. We generally require municipal water and sewer be available. We are positioned to close quickly on an all cash basis, if need be, for distressed sellers. We mostly focus on the major metro markets in the southeastern U.S. for our single family investments. Land can be already entitled or just be in the path of future growth. Deal size is generally from $2 million to $200 million. We are also interested in bulk purchases of new vacant homes. We are willing to take them off builders (or banks) books at a discount of 40 to 50 percent of a recent appraisal.    

Multifamily land: We are currently looking for land zoned for multifamily rentals in the metro areas of Florida. Land must be zoned for 75 to 500 units or in an area that zoning should be easily obtainable. Unlike the current single family situation, we can pay good prices per door for multi-family land, depending on the local market rents. Generally, on multifamily projects, closing will not occur until we have obtained some level of engineering approvals from the local governing bodies.

Commercial: 

Existing small to midsized shopping centers with attractive cap rates and or plenty of future upside. Located only in major metro areas of Florida.

Raw commercial land must be priced suitable for land banking and located on major highways. All utilities must be nearby.   

Brokers welcome.