FORT LAUDERDALE, FL-Cypress Creek Capital has formed a new subsidiary called Cypress Creek Capital Florida Land Investors LLC aimed at acquiring large tracts of land in Florida. Mitch Sinberg comes on board as vice president of acquisitions to lead the effort.

In his role, Sinberg will focus on acquiring tracts of land that are at least 50 acres and may be either entitled or non-entitled throughout Florida. Cypress Creek Capital CEO Seth Werner tells that the company anticipates the price of land to decrease with the softening residential market. “It is our assessment that the slowdown in the residential market is going to result in land prices dropping,” Werner says. “We want to take advantage of the long-term value that we think land will have in Florida.”

No land acquisitions have yet been made under the subsidiary. Although 50 acres is a minimum size, Werner anticipates most deals will be in the 100-acre to 300-acre range. Both residential and commercial sites will be considered, although Cypress Creek will not develop the property. The subsidiary will consider all areas in Florida except for the Panhandle and Northwest Florida. “We’re particularly interested in growth areas, such as Southeast and Southwest Florida and Central Florida,” he says.

Prior to joining Cypress Creek Capital, Sinberg was a senior real estate portfolio manager for ING Investment Management in Atlanta where he was responsible for originating and structuring commercial mortgages throughout the east coast of the US within their commercial real estate finance group. At ING, Sinberg worked on in excess of $1 billion of transactions with developers, REITs and institutional investors.

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