NAVIGATION

December 17, 2017

Who Said That?

Florida's quote of the day

| 7/15/2013

"The appreciation here is artificial."

-- Jack McCabe, a real estate consultant and researcher in South Florida

Voracious real estate investment firms that are buying up thousands of homes in Florida and beyond hope to raise billions of dollars to buy even more homes with a wave of expected initial public stock offerings.

Up to now, many of the firms have lived off money from pension funds, other big institutions, wealthy people and some loans. Florida's state pension board, the State Board of Administration, for example, has $400 million invested in two such funds run by giant private equity firm Blackstone Group and California-based GI Partners.

If the buying spree continues, with ever-rising prices for homes, one player in the business foresees problems.

"It's scary," said Jordan Kavana, whose Miami-based investment firm, Transcendant Investment Management, owns homes in Florida and the Southeast. "Honestly, we see another bubble coming."

Read more at TBO.com.

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Shop with a Cop
Shop with a Cop

Members of the West Melbourne PD, Palm Bay PD and Brevard County Fire Rescue give 140 kids in south Brevard a chance to "Shop with a Cop."

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Grinch poll: What is your least favorite thing about the holiday season?

  • Malls/shopping
  • Frenetic pace
  • I spend too much $$$
  • The music
  • Decorating
  • Other (comments welcome)

See Results

Ballot Box
Subscribe