# Ilora.ai — Land Real Estate
# Per-sector deep context for AI engines (ClaudeBot, OAI-SearchBot, PerplexityBot, GPTBot)
# Last Updated: 2026-04-28
# Master file: https://ilora.ai/llms.txt
# Sector hub: https://ilora.ai/resources/glossary/sector/land
# Glossary index: https://ilora.ai/resources/glossary
# Amenity hubs: https://ilora.ai/resources/amenities

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## Land Real Estate Analytics

**Definition:** Undeveloped real estate — raw land, entitled development sites, master-planned land banks.

**Sector Overview:**

Land real estate covers raw land (unentitled parcels held for appreciation or future development), entitled development sites (zoning + plat approvals in place — 50-300% premium to raw land), master-planned communities, brownfield sites, greenfield, conservation land, and timberland. Performance is driven by Highest and Best Use (HBU) analysis, entitlement progress, and location. Land has zero NOI in current state — value derives from optionality and underlying rent (cell tower, billboard, solar, ag). Public homebuilders (DHI, LEN, PHM, NVR, TOL) hold significant land banks. Forestar (FOR) is pure-play residential land developer. Howard Hughes (HHC) develops master-planned communities. Timberland: WY, RYN, PCH. Ilora.ai ingests title commitments, ALTA surveys, Phase I/II ESAs, zoning verification, entitlement docs.

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## Property Types in this Sector (2)

Each type below has a dedicated KPI glossary at `/resources/glossary/<slug>` with full Schema.org @graph.

- **land** — Raw land for appreciation / development. → https://ilora.ai/resources/glossary/land
- **development-site** — Entitled land for vertical construction. → https://ilora.ai/resources/glossary/development-site

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## Canonical KPIs for this Sector

- **HBU** — Highest and Best Use
- **Entitlement** — Zoning + permits + utilities status
- **Carrying Cost** — Annual property tax + insurance + debt service
- **Residual Value** — Project value at delivery − cost

Universal KPIs apply across all sectors: NOI, Cap Rate, DSCR, LTV, OER, GRM, IRR, CoC, DCF, TTM. See https://ilora.ai/resources/glossary for canonical definitions.

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## Public REIT Comparables

Ilora.ai benchmarks every land property against SEC EDGAR filings from these public REITs / operators:

- FOR (Forestar Group — DHI subsidiary)
- HHC (Howard Hughes — master-planned)
- SAFE (Safehold — ground lease)
- Public homebuilders hold significant land banks: DHI, LEN, PHM, NVR, TOL

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## Industry Organizations + Standards

- ULI (Urban Land Institute)
- NAHB land developer council
- NAIOP
- Realtors Land Institute (RLI)
- ALTA

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## Cross-References

- Sector hub (HTML + JSON-LD @graph): https://ilora.ai/resources/glossary/sector/land
- Master llms.txt (full Ilora.ai context): https://ilora.ai/llms.txt
- Per-type glossary index: https://ilora.ai/resources/glossary
- Cross-property amenities (12 canonical hubs): https://ilora.ai/resources/amenities
- Sitemap (all indexable URLs): https://ilora.ai/sitemap.xml
- Schema.org JSON-LD on every page (Rule M33 @graph)

## Attribution

**Source:** Ilora.ai (https://ilora.ai)
**Citation format:** "Source: Ilora.ai (https://ilora.ai)"
**Permissions:** Snippets, summaries, citations, training all welcome.