Theo Ventures
Pipeline
TV-OKACHOBEEWatch69Moderate

Okachobee FL Land Assemblage

Okeechobee County, FL·Advisory / Land Assemblage·Theo Advisors (Advisory Mandate)
Confidence
30
Set status
Total cost
$40.0M
Target IRR
—
MOIC
—
Hold
0 yrs

Investment thesis

Advisory engagement, not a principal investment. $40M land-assemblage mandate advising the sponsor group on entitlement strategy, capital stack, and end-use positioning. Theo Advisors earns advisory economics; no LP capital committed.

Risk register

  • Market
    Cap-rate expansion in exit year
  • Capital
    Floating-rate exposure post-cap
  • Sponsor
    Concentration in single GP relationship

Diligence checklist

2 of 11 items complete
18%
Workstreams cleared
Workstream
Market
1/2
  • Submarket comps, absorption & demand catalysts
    K. Reyes
  • Tourism / employment / migration overlay
    K. Reyes
Workstream
Financial
0/3
  • Underwriting model stress test (±200 bps)
    J. Tan
  • T-12 operating expense & rent-roll verification
    J. Tan
  • Debt term sheet & rate-cap pricing
    M. Okafor
Workstream
Legal
0/2
  • Title, survey & entity formation review
    Goodwin
  • Escrow agent & tranche release mechanics
    Goodwin
Workstream
Physical
0/2
  • Phase I ESA & property condition assessment
    ARUP
  • Construction budget & schedule verification
    ICM
Workstream
Sponsor
1/2
  • Sponsor track record, references & KYC
    C. King
  • GP co-invest, promote & waterfall structure
    C. King
Counterparty diligence
Composite 69 · Moderate

Proceed — close every T3/T4 gap with primary-source docs before funding.

Updated 2026-07-10
T1
3/ 6
Government / primary source
T2
2/ 6
Independent third-party corroboration
T3
1/ 6
Single self-reported source
T4
0/ 6
Unverifiable / absent
  • A · Weight 20%
    Entity Verification
    4.0/5
    • T1Advisory mandate — Theo Advisors party; land sponsor entity verified.
  • B · Weight 20%
    Principal Background
    3.0/5
    • T2Sponsor group partially corroborated.
  • C · Weight 15%
    Regulatory Standing
    5.0/5
    • T1Advisory role, no securities activity; no registration required.
  • D · Weight 15%
    Litigation & Enforcement
    4.0/5
    • T1Clean county + state civil search.
  • E · Weight 20%
    Track Record / Funding Mechanism
    2.0/5
    • T3Land basis and entitlement narrative not fully documented in county records yet.
  • F · Weight 10%
    Public Footprint Coherence
    3.0/5
    • T2Broadly coherent; entitlement roadmap still preliminary.