Land Investor Experiences Demand From Home Builders

Stratford’s property in Austin is called Estancia Hill Country.

AUSTIN, TX—Since 2012, Dallas-based Stratford Land has sold more than $618 million worth of land (approximately 25,000 acres) across the high growth regions of the country. During the past four years, Stratford has noted a high demand for land in all asset categories, but in 2015 was a particular interest in land for multifamily and single-family residential. As of last month, Stratford Land has an inventory of more than 35,000 acres of land for sale in the Sunbelt regions and more than $200 million worth of land under contract or with letters of intent to close during 2016. Phillip Wiggins , CEO of Stratford Land, tells GlobeSt.com: “As a long-term land investor in the most populated areas of the Sunbelt, Stratford Land is currently experiencing a strong demand from home builders from the Carolinas to Florida, throughout Texas, in the Phoenix area and Southern California. This is a clear indication that the economy is doing well and the secondary market is returning.” In 2015, the company’s largest transactions were the sale of nearly 4,000 acres to the Nature Conservancy and the Georgia Department of Natural Resources , and in Orlando, the $25.6 million land sale to two developers for single family and commercial use. Notable 2014 Texas sales include more than $40.6 million worth of land for residential in North Texas, $9.5 million worth of land in the Austin area for single family development and more than $12.6 million worth of land for industrial development in Katy, near Houston. Other sizable Stratford Land sales include a $48 million land sale to a mixed use developer in Southern California in 2014 and in Arizona’s Vistancia development, land valued at $26.5 million was sold to several single family development companies. Signaling a pick-up in demand in second and resort home markets, Stratford Land sold more than $14 million of lots and land near Hilton Head, SC to residential developers in 2014. In North Carolina, Stratford closed sales to single family, multifamily and retail developers valued at $5.3 million. “We’re selling into strong demand for land for both single family and multifamily construction projects and are even beginning to see growing demand for second and resort home building,” said Wiggins. “The high demand for land for housing is a solid indication that the economy is stabilizing and builders have regained their confidence. In 2016, we are confident that growth will continue in the Sunbelt’s most populated and high-growth areas, validating our investment strategy.