Cypress Creek Capital Launches New Subsidiary to Pursue Land Acquisitions in Florida

Business Wire, Feb 14, 2007

FORT LAUDERDALE, Fla. -- Cypress Creek Capital, Inc., a real estate investment and advisory company, has formed a new subsidiary, Cypress Creek Capital Florida Land Investors, LLC, to acquire land throughout the state that is at least 50 acres, raw or developed, entitled and non-entitled, announced Jan David Reese and Steven Beauchamp, company principals.

According to Reese, during every real estate cycle there are exceptional investment opportunities.

"The residential land bubble currently bursting in Florida is setting the stage for a significant drop in prices," said Reese. "The slow down and adjustment period expected over the next few years should produce opportunities for Cypress Creek Capital Florida Land Investors to control major land tracts to resell when the residential market recovers."

Cypress Creek Capital Florida Land Investors' team has extensive experience in residential land due diligence, valuation, acquisition, entitlement and development. The company's principals also have strong relationships with key experts statewide, which have helped them create a disciplined approach to joint ventures for developing targeted land holdings and/or identifying, negotiating, managing, repositioning and selling properties.

"We are confident that our industry relationships and experience will produce a well-planned, successful land acquisition program that offers attractive returns for investors of Cypress Creek Capital Florida Land Investors," said Beauchamp.

According to Dr. Henry Fishkind of Fishkind & Associates, a renowned real estate and economic expert and advisor to Cypress Creek Capital, the land investment market had been a long term investment vehicle dominated by wealthy families and well-capitalized land developers and owners. More recently, the business model has shifted to a higher concentration of land speculators in response to low interest rates and the demand by homebuilders in the Florida market. Dr. Fishkind believes that many existing land owners/speculators are not well-capitalized and have leveraged their investments with short term, variable rate debt.

"With interest rates, real estate taxes, insurance and other holding costs continuing to rise along with the housing market shifting into a slower gear, I expect we will see land speculators start to liquidate their holdings," said Dr. Fishkind.

About Cypress Creek Capital

Cypress Creek Capital's management team has provided more than $1.0 billion in equity capital to commercial real estate developers through partnerships with institutions and high net-worth individuals. Cypress Creek Capital also owns in excess of $100 million of office and retail properties in Florida in partnership with institutional and private investors.

For more information, please visit www.cypresscreekcapital.com.