NEW YORK CITY-A New York-based private equity firm, GTIS Partners, along with LGI Homes, has purchased around 2,200 home sites in Florida and Texas at rock-bottom prices.
GTIS has paid almost $1 million to purchase a portion of the Luckey Ranch development, a 93-acre piece of undeveloped land allotted for 393 homes, close to San Antonio from Kalikow Group. The firm also acquired a portion of the 580-acre Grimsely Ranch project, a 1,800-home site for $8 million from a bank. For the full story, go to The Wall Street Journal.
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