(Crystal Proenza is associate editor of RealEstate Florida.)
LEHIGH ACRES, FL-Brookwood Value Partners LLC, an affiliate ofMassachusetts-based Brookwood Financial Partners LP, has purchased214 finished residential lots here as part of its new buyingstrategy focused on purchasing land with entitlements ready to bebuilt upon. The vacant lots are part of a planned residentialcommunity at Homestead Road and Marble Brook Boulevard called theGrove. Terms of the deal were not disclosed.
"Land is poised for a comeback quicker than other markets,"Thomas N. Trkla, Brookwood's chairman and CEO, tells GlobeSt.com."We have started focusing on the best value to play and we don'tthink it's in commercial property right now, and we don't think itwill be in the next 12 to 24 months."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
