Loci Capital, RealtyLink Secure Early Exit on Haines City Industrial Build-to-Suit
Funds controlled by Loci Capital Fund II, LP, an affiliate of Loci Capital Group, announced the early divestment of the Haines City Industrial Build-to-Suit—a 174,000-square-foot, Class A facility developed with RealtyLink and fully leased to an investment-grade tenant. The project is situated on a 39-acre parcel in the high-growth Lakeland–Haines City, FL. corridor.
The joint venture closed on the land and executed a long-term lease in April 2024, with construction delivered on time, on budget, and with both shell and interior improvements completed ahead of schedule. Loci began testing the market with brokerage teams in early 2025 and ultimately closed a sale in late 2025—beating underwriting timelines at a point when many private-market investors were still deferring realizations amid tighter capital markets and slower transaction volume.
“When we received unsolicited inbound interest materially ahead of our underwriting timeline, it created an opportunity to crystalize value early and return capital to our investors significantly faster than planned,” Dave Workman, Loci’s Head of Industrial Investments, told Connect Money.
Workman noted that, in contrast to many owners who are extending hold periods to “grow into” their basis amid higher debt costs, Loci’s business plan benefited from cost discipline, execution certainty, and durable, lease-backed cash flows that allowed the Haines City asset to meet return hurdles sooner than expected. Once pricing cleared the firm’s threshold, he said, an early divestment was “a disciplined, risk-adjusted decision—fully aligned with our investment principles.”
“This early realization reinforces Loci’s ability to return capital ahead of underwriting, even as distributions across the broader private markets have slowed dramatically over the past two years,” said Casey Wilson, Managing Principal and Head of Investor Relations at Loci Capital. “Fund II only recently held its final close in January 2025, yet we are already putting realizations on the board.”
Looking ahead, Workman said he does not expect accelerated dispositions to become standard across the industrial sector, pointing to ongoing challenges around capital costs, refinancing risk, and elevated bases. He characterized Haines City as an asset-driven outcome—combining a mission-critical facility, best-in-class tenancy, strong submarket fundamentals, and an early basis advantage—while noting that bid-ask spreads are starting to compress and liquidity is “returning faster than headlines suggest” for high-quality, well-leased product in select Southeast markets.
Since its inception in 2019, Loci Capital has invested more than $350 million of equity into over $1.4 billion of real estate across the Southeastern U.S.
Pictured: Haines City Industrial Build-to-Suit