Largest Lee County land deal closes, $100M for 1,745 acres in northwest Cape Coral

Largest Lee County land deal closes, $100M for 1,745 acres in northwest Cape Coral

Dec 16, 2024

A record-breaking $100 million land deal in Lee County has been finalized, with Forestar, a subsidiary of D.R. Horton, purchasing 1,745 acres in northwest Cape Coral. The land, called Hudson Creek, will be developed into a large, mixed-use community featuring over 3,500 homes, commercial spaces, retail, offices, a university, and more. The project will speed up utility expansion along Burnt Store Road and create a central hub for the area’s needs. After two years of planning and rezoning approval in 2023, the development aims to transform northwest Cape Coral into a vibrant, walkable community.

Banks Pull Back on Commercial Real Estate Lending

Banks Pull Back on Commercial Real Estate Lending

Oct 3, 2023

The top 25 banks, holding 31% of all commercial real estate loans, have seen sluggish loan growth since 2016 due to increased regulations, competition from non-bank lenders, and regional banks. In contrast, regional and community banks have averaged 9.7% annual loan growth over eight years. Large banks, with 60% of their loans secured by nonresidential properties, saw a 0.3% decline in commercial real estate loans in September 2023. As $1.9 trillion in commercial real estate loans mature in the next four years, there’s a risk of tighter credit conditions affecting property values and transaction volumes, particularly for office properties.