Every few months another new-city project announces a raise. Is there a sane way for a non-billionaire to get exposure, or is this purely a vanity asset class?
Asked by Sam Rivera00 expert answers
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Every few months another new-city project announces a raise. Is there a sane way for a non-billionaire to get exposure, or is this purely a vanity asset class?
For most individual LPs, direct exposure to the land/infrastructure phase is genuinely too illiquid and long-dated — you're underwriting a decade-plus hold with negative cash flow for years. The sane exposure is one phase down: the vertical product (apartments, BTR, retail) built within a master plan once the anchor…