$23M Florida Land Banking Deal: Why We’re Betting on Fort Myers

We just closed on a ~$23 million fixed-income land banking deal in the Fort Myers MSA—our first Florida project, and one we’ve had our eye on for a while.

We just closed on a ~$23 million fixed-income land banking deal in the Fort Myers MSA—our first Florida project, and one we’ve had our eye on for a while.

Florida has long been on our radar. It checks nearly every box for long-term real estate investing:
→ Rapid population growth
→ No state income tax
→ Entrepreneurial culture
→ A climate people actually want to live in
→ And policies that support business and development

For the past few years, though, quality deals were hard to come by. A lot of capital chased too few assets, which drove prices up and margins down. But recently, we’ve seen real fundamentals return, and we’ve been able to move with conviction.

This Fort Myers opportunity stood out because it was well-structured, builder-backed, and located in one of the most resilient master-planned communities in the country. Even in a tighter lending environment, experienced builders are still pursuing deals that make sense—and that’s where we like to be.

Why We’re Long on Fort Myers:

• Top 3 metro for net migration in 2023

• Growing job diversity—healthcare, logistics, remote work

• Lifestyle-driven market with long-term housing demand

This deal gives us a strong foothold in a market we believe in—and it won’t be our last.

What markets do you believe in long-term, but haven’t invested in yet?