What exit strategies exist for Sunshine Corridor land beyond holding to transit opening?

Three distinct exit strategies exist, each suited to a different investor profile and capital capacity. First: sale to a developer at transit-premiumed prices once federal funding is committed (Phase 4 in the federal transit process). This typically occurs 3 to 5 years into the hold period and allows the land banker to capture the Phase 1 to Phase 4 appreciation, which national data suggests is 15 to 40% of the total transit uplift, without executing any development. The buyer at Phase 4 is a developer who needs entitled land and is willing to pay the transit premium because the funding risk has been eliminated. Second: LLA development execution. Build the entitlement onto the land value by executing the LLA project yourself or with a development partner. This transforms the land banking play into a development play with a higher total return but significantly more capital, risk, and execution complexity. The development exit works best for investors with existing multifamily development experience and access to construction financing. Third: ground lease to a developer. Retain land ownership while the developer builds the improvement on a 50 to 99-year ground lease. This structure captures both the transit uplift (through the ground lease reset at opening) and the ongoing income stream, while the developer assumes construction risk. Ground leases work best for patient capital with a 15+ year horizon. The best exit strategy depends on capital capacity, return targets, and execution capability.