PPAF Cap5 Pursuit Fund
Southwest, United States
PPAF is investing $2,540,000 as lead JV Partner in a targeted pursuit capital fund that will entitle land for sale to development projects with our partners. We expect to receive outsized returns with a minimum 50% uplift regardless of duration that is backstopped by the parent company of our JV. This venture will be spread across multiple entitlement projects including residential, industrial and self-storage land uses. The total venture JV equity is $3,000,000 and PPAF is an 80% lead member. The beginning duration is 3.0 years.
Champions Gate
Orlando, FL
This is one of two land development projects we have with our operating partner DDC Management. The Champions Gate land is well located along Interstate 4 in Champions Gate, metro Orlando Florida. We entitled the project to develop 420 multifamily units for sale to a national homebuilder, and our final entitlements were received in Q2 2020 with lots on the ground for sale by Q3 2020. Upon final entitlements, we partnered with both an institutional private equity firm as well as an institutional lender to develop the project.
Ford Plot
Orlando, FL
This is one of two land development projects we have with our operating partner DDC Management. The Ford Plot is well located along Interstate 4 in Deland, metro Orlando Florida. We are currently entitling the project to develop 440 residential lots for sale to national homebuilders, and our final entitlements are expected to be received in Q2 2020 with lots on the ground for sale by year-end 2020. Upon final entitlements, we will likely partner with both an institutional private equity firm as well as institutional lender for developing the project.