Leonard Abess now owns 747 acres of land in SF

Leonard Abess, former owner of City National Bank of Florida, has increased his South Florida land holdings to 747 acres. Abess, who has a history of making big land grabs since selling his bank for $945 million in 2009, has made five purchases this year totaling 143 acres and $4.5 million, the South Florida Business Journal Reported. In 2010, he purchased 584.4 acres and a total of 28 properties for $21.1 million. Most of the land is outside the urban development boundaries and is far apart. Abess’ strategy seems to be to acquire land far in advance of proposals when prices are low. [SFBJ]