BUT WAIT, THERE’S MORE …
What the nice, shiny article DIDN’T say was that these sharp promoters went to the trouble to add $1,258,652 to the price they paid before selling it to their own investment entity – marking it up to their own investors. Kinda a no-lose situation …
So their own investors are now in the land for $163,350/ac or $3.75/sf – a fat 18% premium over real cost.