07 | 22 | 2011
TerraCap Partners buys Palmira Village Land
Gulf Coast Business Review
The vacant property is entitled to serve as a town center mixed-used development for the surrounding Palmira Golf & Country Club community. The land has vested concurrencies for up to 275 multifamily units and up to 100,000 square feet of commercial space. The real estate investment firm considers the property a long-term hold, says TerraCap Partners’ general partner W. Stephen Hagenbuckle. “We’re inventorying it for the moment,” Hagenbuckle says. “It’s a great site. The Palmira [Golf &] Country Club is a fantastic community. This is the last developable piece in Palmira.” TerraCap partners recently purchased a similar 26.31 acres of vacant land north of Emerson Square Boulevard near Alico Road and U.S. 41 in Fort Myers for $1.7 million.