Bruce Berkowitz, was named Morningstar's domestic-equity-fund manager of the decade, and was recently interviewed on CNBC to discuss his fund’s holdings. In this interview he made it obvious that he believes that now is the opportune time to be investing in the Florida panhandle. What better way to do so than to own a piece of a real estate giant such as St. JOE? According to past interviews, the Fairholme fund owns almost 30% of ST. JOE (NYSE:JOE). I wonder how confident these fund managers are about the potential growth in the panhandles real estate sector?
Bruce stated in the interview that “St. Joe is the Panhandle” and he implied that most individuals are not aware of the impact the new international airport will have on the surrounding real estate. He stated in numerous interviews that the new international airport would not only open up the panhandle to the United States, but to the world as well. For those of you who are skeptical about the kind of impact an international airport can have in an area, Google the “Southwest Effect”.
In addition we are just as convinced, as Bruce Berkowitz is, that the surrounding areas are going to experience explosive growth due to the accessibility the new international airport will provide. Here at New Bastion (NWBA.PK) we have been positioning ourselves for the upcoming growth in the panhandle by purchasing residential and commercial real estate in the surrounding areas. In short we have been paying close attention to the smart money!!
