HOUSTON ? (www.chron.com) Houston-based Lionstone Group has raised around $100 million to invest in land parcels across the United States.
This is the second fund of its kind for the real estate investment firm, whose land strategy is to invest in ?large infill land sites,? hold them and then sell to developers and users. Infill sites are vacant parcels in well-developed areas. Lionstone has other commercial real estate assets, too.
?We believe investing in infill land is one of the best large-scale real estate investment strategies available today,? Lionstone partner Tom Bacon said in a news release. ?Infill land investing has been a cornerstone of the Lionstone investment platform since our inception.?
In its first land fund, the company raised $75 million from high net-worth individuals, as well as contributing its own equity?
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Source: http://www.rednews.com/index.php/2012/10/local-investors-plan-new-land-fund/
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