Bright Growth Future
Grass River sees South Florida’s future as the western hemisphere’s most international, culturally dynamic and exciting region. Miami and South Florida have long welcomed travelers and immigrants from around the world to enjoy outstanding climate, natural beauty and a business-friendly economy. Recent years brought dramatic transformation with “Americas Gateway” joining the top tier of international cities and emerging as a global center of arts, entertainment and culture. The years since 2010 have seen a new influx of talented and affluent immigrants from across the U.S. and around the world. In addition, strong business formation and high-value job growth in financial services, trade, healthcare and media sectors have added significant breadth to traditional strengths in tourism and real estate. While we hope to hear many more new arrivals from New York calling Miami the “Sixth Borough,” we see “Hong Kong in the Americas” as closer to the mark in 15 years!
Dense Urban Future
Adding to multiple growth drivers, South Florida property investors also benefit from unique geographic barriers that limit supply and mandate increasing urban density. From Jupiter to Homestead, the contiguous metro area stretches 120 miles in a narrow strip averaging only about 10 miles wide between the Atlantic and the Everglades — essentially a long, narrow “island” with nearly all vacant land built-out and all possible transportation corridors already in use. In coming years, growth will be increasingly focused on dense re-development and vertical in-fill of urban areas surrounding a small number of transport/mass-transit nodes. Grass River targets these locations for repositioning, adaptive re-use and ground up development projects emphasizing efficiency, sustainability, walkability and transit access.
Forward Thinking Investment
While optimistic about a bright future in South Florida, we have a cautious outlook of the global economic environment. We avoid crowded market spaces and speculative, momentum-based investments. We focus on fundamental value-add opportunities driven by operating cash flow growth uncorrelated to market price movements. Strong relationships, experience and track record provide highly differentiated execution capabilities and transaction flow relative to market competitors. We target high-entry-barrier infill locations benefitting from multiple demand drivers and in-place transportation infrastructure for projects stressing efficiency, walkability, transit-access and sustainability in an increasingly dense urban future.