In a joint venture with the seller, 1500 Partners LP, the plan is to create several five-acre lakefront lots and then sell them off or joint venture with a builder in the development of multi-million-dollar luxury estates. 1500 Partners is an investment partnership of the Courtney family. Randall Courtney tells GlobeSt.com that the property is the only developable land left on Sportsman Lake, a renowned Bass fishing lake and the only lake on the island large enough to land seaplanes.

The sale price of the land was not released by the parties involved and was not yet available through the records division of San Juan County. With luxury estates on them, the IGDC estimates the gross market value of the property at around $60 million.

IGDC's goal is to focus on providing strategy, financial and investment tools to provide economic development, education, empowerment and financial self-sufficiency for Native Americans across the US and for indigenous people throughout the world including Guam, New Zealand, Australia and Canada. The company's director of business development John Mejia tells GlobeSt.com that the upside from the San Juan Island investment will be used to further the company's goals.

For example, in Northern California, IGDC is helping the Big Valley Rancheria Pomo Band of Indians refinance a loan for an existing casino development near Clear Lake, CA, allowing the group to fund an upgrade of the casino as well as development of a hotel, restaurant and boat and RV slips.

"This San Juan Island investment will help us do similar things for similar tribes," Mejia tells GlobeSt.com.

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Native American Company Invests in Island Lakefront

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