We purchased 26 acres of commercial land, adjacent to our residential development, the Mirada, for $380,000 (it had previously sold for $6.5M in 2004). We raised a bit more money for holding costs and entitlement fees, and held this land until construction on Mirada began. We then sold half the land to a large grocery chain, and the remaining pads to other commercial developers. Investors received their 15% preferred return plus profit in 2021.
Cannon Ranch, Pasco County, FL
Status: Completed Projects