05/10/2026
September made one thing clear: capital is still moving into Puerto Rico and South Florida, but the more interesting story is what happens after it arrives.
In Puerto Rico, deployment broadened across technology, development and luxury housing. In South Florida, capital moved into land, institutions, infrastructure and operating assets. The pattern was less about volume and more about selectivity.
The question heading into Q4 is no longer simply where capital is going.
It is what capital cannot easily replace.
Scarcity. Ex*****on. Differentiation.
Puerto Rico × South Florida
Ian Cahill | Nest Seekers International