Avocados, Harvest, and water appreciating ~6-10%/yr carry growth through 2030. Beyond that, Limco Del Mar is the next engine: 221 infill acres in Ventura, ~900-1,500 potential homes. Entitlements there can be tough. Our NAV basically assigns no value to it. It's a free option.
Very thorough write up. Thank you
You think it is just the re-rating that is interesting? Or does the business have longer term potential to grow, beyond 2030?
Avocados, Harvest, and water appreciating ~6-10%/yr carry growth through 2030. Beyond that, Limco Del Mar is the next engine: 221 infill acres in Ventura, ~900-1,500 potential homes. Entitlements there can be tough. Our NAV basically assigns no value to it. It's a free option.