In his role, Sinberg will focus on acquiring tracts of land thatare at least 50 acres and may be either entitled or non-entitledthroughout Florida. Cypress Creek Capital CEO Seth Werner tellsGlobeSt.com that the company anticipates the price of land todecrease with the softening residential market. "It is ourassessment that the slowdown in the residential market is going toresult in land prices dropping," Werner says. "We want to takeadvantage of the long-term value that we think land will have inFlorida."

No land acquisitions have yet been made under the subsidiary.Although 50 acres is a minimum size, Werner anticipates most dealswill be in the 100-acre to 300-acre range. Both residential andcommercial sites will be considered, although Cypress Creek willnot develop the property. The subsidiary will consider all areas inFlorida except for the Panhandle and Northwest Florida. "We'reparticularly interested in growth areas, such as Southeast andSouthwest Florida and Central Florida," he says.

Prior to joining Cypress Creek Capital, Sinberg was a seniorreal estate portfolio manager for ING Investment Management inAtlanta where he was responsible for originating and structuringcommercial mortgages throughout the east coast of the US withintheir commercial real estate finance group. At ING, Sinberg workedon in excess of $1 billion of transactions with developers, REITsand institutional investors.