2025 ANNUAL LAND STRATEGY MEMORANDUM BY HORIZONTAL LAND PARTNERS

Horizontal Land Partners | Exurban & Greenfield Land Banking Strategy Institutional Land Control for Housing, Industrial, Energy, Medical, and Mixed-Use Development

I. EXECUTIVE SUMMARY

Horizontal Land Partners is a Florida-anchored institutional land banking platform focused on exurban and greenfield acquisitions. Our mission is to unlock and derisk large-scale, fast-track residential and mixed-use land opportunities for institutional homebuilders, build-to-rent (BTR) operators, and infrastructure-aligned end users.

We specialize in tiered land deployment, anchored in Florida, and target large, entitle-ready or entitlement-capable sites. Our strategy emphasizes horizontal development economics, capitalizing on demographic inflows, public builder land control trends, and land scarcity along Florida’s coastal and inland corridors.

Our 2025 strategy prioritizes:

• Securing our first 1,000–2,000 acres of control-ready land

• Delivering a 500+ acre flagship master-planned community (MPC) with long-term absorption, LEED certification eligibility, and a phasing plan supporting 2,000+ units

• Acquiring fast-track subdivisions between 30–100 acres within municipal overlays and active utility zones, ideal for 12–24 month builder takedowns

• Maintaining an average entry basis of under $3 million per site, with a firm cap at $5 million, to limit entitlement and carrying risk

We maintain a permanent Florida focus until our pre-IPO capital raise of $50 million is completed (targeted by end of 2026). Until then, 100% of land acquisition and deployment will remain in Florida.

While our focus is housing-driven (60%), we actively evaluate high-value use cases across medical, hospitality, light industrial, and retail center anchors, to serve public-private zoning overlays and respond to infrastructure-led economic development. These projects are managed by our Special Projects Division and allow us to maximize zoning and disposition optionality for institutional capital partners.

II. PLATFORM MANDATE AND STRUCTURE

• Florida-Anchored Strategy: Minimum 50% deployment across growth counties in central and coastal Florida.

• Sector Allocation:

• Project Scale Targets:

• Investment Risk Controls:

• Headquarters (2027): Planned in Orlando, colocated with our first institutional-scale MPC. Active financial and capital markets teams in New York and Miami.

III. STRATEGIC COMPARISON: FLORIDA VS. TEXAS

Category

Florida

Texas

Top Builder HQs

Lennar (HQ), Dream Finders (HQ), GL Homes (Regional)

DR Horton (HQ), LGI, Forestar

MPC Leadership

The Villages, Babcock Ranch, Lakewood Ranch

Harvest, Walsh, Sonterra

Migration Clustering (2020–23)

165K+ across top 10 counties

Similar volume, diffuse

Retiree Migration %

25%+

<10%

Zoning Tools

CRA, CDD, NCA, PD

MUDs, ETJs

Tourism GDP

$110B+, top 3 national

Limited outside DFW/Houston

Institutional Incentives

CRA, SHIP, LIHTC, infrastructure reimbursement tools

MUD-only in most areas

Universities

UF, FSU, UCF, USF, FIU

UT System, Texas A&M

Waterfront Constraint

8,400+ miles of coastline

Limited

Infrastructure Concentration

Dense along I-4, I-95, I-75

Highly variable by region

IV. COUNTY-LEVEL MIGRATION CLUSTERS (2020–2023)

Source: U.S. Census Bureau, RCLCO, state demography offices

Florida (10K+ net new residents annually):

• Polk County: +29,364 – Central logistics corridor (I-4)

• Pasco County: +25,441 – Tampa MSA expansion

• Hillsborough County: +17,008 – Urban core

• Brevard County: +16,326 – Aerospace + coast

• Lake County: +15,820 – Orlando suburban ring

• Marion County: +16,015 – Ocala growth

• St. Lucie County: +15,136 – East coast corridor

• Palm Beach County: +14,679 – Mixed demand

• Volusia County: +13,682 – Infill growth; tourism and affordability

• Osceola County: +13,412 – High-density housing, schools

Texas (10K+ net):

• Denton / Collin / Tarrant / Williamson (All part of DFW or Austin growth clusters)

Clustering Advantage: Florida has the most adjacent 10K+ growth counties, enabling multi-county land deployment, unlike more isolated fast-growth counties in Texas.

V. ZONING & FAST-TRACK ENTITLEMENTS

Florida is a national leader in subdivision-ready zoning overlays with:

• CRA/NCA: Community-driven public finance tools

• CDDs: Build-ready bond-backed infrastructure

• PD/MPC: Flexible large-scale zoning

• SHIP/LIHTC: Affordable + attainable integration

• Municipal utility overlays: Fast-track approval pathways within incorporated zones

Unlike Texas’s more fragmented MUD/ETJ model, Florida zoning supports mixed-use, stormwater-integrated, and incentive-stacked development at scale.

VI. BUILDER STRATEGY ALIGNMENT

• Florida Public Builder Presence: Every major public homebuilder has significant land control in Florida:

• Builder Lot Control: Florida and Texas account for over 60% of public builder lot options nationally.

• Our Strategy: Deliver phased, engineered subdivisions with clear zoning, title, and incentives for transactional velocity.

VII. HORIZONTAL LAND DEPLOYMENT TARGETS

For 2025:

• Control 2,000+ acres in Florida

• Target 8–10 counties with high absorption and incentive overlays

• Execute first LEED-eligible MPC (500+ acres)

• Deliver 15+ subdivisions sized 30–100 acres (100+ units)

• Pursue multi-sector entitlements for industrial, medical, energy, or retail use

• Maintain flexible zoning readiness across all tracts

Land pricing is segmented as follows:

• $10K–$20K/acre = high-volume opportunity zone

• $20K–$40K/acre = mid-market suburban absorption

• $40K–$60K/acre = coastal, urban, or high-amenity sites

• Land above $60K/acre is considered Special Projects only

VIII. LONG-TERM STRATEGIC ADVANTAGE

• Florida as Anchor: Demographic growth, builder alignment, coastal scarcity, and infrastructure tools make Florida irreplaceable.

• Orlando HQ (2027): Access to engineering, amusement/tourism, and central land corridors

• Texas as Future Expansion (2026+): 25% of future capital deployment reserved for Austin, DFW, and Houston-adjacent tracts post-IPO.

• No entry into other U.S. markets until Florida portfolio scales past 10,000 lots or $50M capital raise is closed

Prepared for:

Horizontal Land Partners 2025–2026 Institutional Land Acquisition Strategy Prepared for institutional-level developers, capital partners, and public/private institutions focused on horizontal, exurban, and greenfield land development. www.horizontallandpartners.com

Index of Sources:

• U.S. Census Bureau (2023)

• Builder Online Public Filings (2024)

• Florida Housing Coalition + HUD (SHIP/LIHTC)

• Visit Florida + Enterprise Florida (2023–2024)

• RCLCO MPC Report (2023, 2024)

• County GIS + CRA/NCA zoning maps

• Public builder land control SEC reports (2024)

• Florida Department of Economic Opportunity (2024)

✅ Call to Action

At Horizontal Land Partners, we’re actively securing the next generation of Florida’s buildable land pipeline—ranging from 30-acre subdivision-ready infill to 1,000+ acre master-planned communities. Whether you’re a public builder, institutional capital partner, infrastructure consultant, or landowner looking to align with a platform that understands horizontal development from entitlement to exit, we welcome the opportunity to connect.

📩 Reach out to our team at info@horizontallandpartners.com 🌐 Visit us at www.horizontallandpartners.com 📍 Headquartered in Florida. Financial offices in New York and Miami. Operational presence statewide.

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