Sunbelt Land Fund

“The best investment on Earth is earth.”

Louis Glickman, American Real Estate Entrepreneur

Why Land? The Market Opportunity for Investing in Undeveloped Land


Southern Waters Capital's ("SWC") expertise in build-to-rent and multifamily developments paves the way for exceptional returns in the land asset class. Mark Twain's adage, "Buy land, they're not making it anymore," is particularly pertinent when considering the investment opportunities in the Sunbelt Region. As the demand for housing in this area continues to soar and the scarcity of land becomes more pronounced, the Sunbelt Land Fund is well-positioned to capitalize on the untapped potential of unentitled land investments.

SWC is recognized for its expertise in build-to-rent and multifamily developments, which allows the firm to identify the most promising investment opportunities and navigate the complexities of the land asset class. Our experience and in-depth market knowledge enable us to skillfully manage the development process, ensuring that projects meet the growing demand for quality housing in the Sunbelt Region.

Investing in unentitled land allows SWC's investors to enter a market segment often overlooked due to the complexity of obtaining necessary permits and approvals. While this process requires expertise and foresight, unentitled land offers a lower entry cost compared to entitled land, creating a lucrative opportunity for those who can successfully navigate the entitlement process. SWC excels at adjusting existing entitlements to better align with market demands and evolving trends. By identifying underutilized or suboptimally entitled properties and securing entitlements for their "highest and best use," we can significantly enhance the value of these assets, generating attractive returns for our investors. With a combination of focusing on the fundamentals and expertise in land development SWC is able to produce exceptional returns with minimal downside risk.

Geographic Focus

Considering the current market opportunity, we have identified key states and submarkets within the Sunbelt region that will derive the highest utility from additional multifamily and build-to-rent supply. We are very focused on the state of Florida, especially submarkets between North Central FL and South FL that will benefit from economic growth and infrastructure improvements, such as FL's Brightline. Additionally, we are interested in Tennessee, North Carolina, South Carolina, Texas, Georgia, and Alabama.

The Sunbelt Land Fund Strategy

It’s the story of the average American's flight to free space and affordability.

The Sunbelt Land Fund Strategy is relatively simple and is designed to be complementary to the countless developers who are actively seeking to expand their pipeline in the burgeoning Sunbelt Region. In short, developers desire a long-term supply of shovel-ready land, but they do not want assets in the predevelopment stage on their balance sheet. Ideally, developers and home builders want to implement a just-in-time model for their land inventory. Unfortunately for the developers and fortunately for our investors, the predevelopment and entitlement processes are time-consuming, capital-intensive, and highly nuanced. The Sunbelt Land Fund Strategy is to purchase large tracts of land in high-growth markets within the Sunbelt, bring them to a shovel-ready state, and then leverage our relationships with developers nationwide to dispose of the assets for a profit. The Sunbelt Land Fund serves as a bank of shovel-ready land located in high-growth markets that developers and home builders have identified as ideal for the production of new housing supply. The objective of the Sunbelt Land Fund is to preserve capital, provide non-correlated returns, and produce a strong equity multiple on all invested capital.

Land Development Acquisition Criteria

  • Asset Type: Vacant Land (entitled or unentitled)

  • Acreage: 25-70 acres

  • Product Type: Multifamily, Build for Rent (BTR)

  • Potential Units: 200-350

  • Units per Acre: 4-5

  • Geographic preference: Major MSAs, Tertiary, and Submarkets in the Sunbelt Region.

  • Other Key Parameters:

    • Proximity to growing population;

    • Housing supply constrained markets;

    • Increasing wages;

    • Appreciating home prices;

    • Major employers;

    • Major transportation corridors; and

    • Critical infrastructure (especially water/sewer).

Learn About Our Land Development Acquisition Criteria

Click 'Download' Below to Access a PDF With Our Acquisition Criteria

831 NE 20th Avenue

Fort Lauderdale, FL 33304

(321) 368-0103

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