Like it would be pretty amazing if that value was just due to land appreciation and had nothing to do with their management and investment decisions.
The one I know intimately is worth less than $1m for the land. I believe there are far fewer of those left than in 1960, but my perception is there are still quite a few.
Like it would be pretty amazing if that value was just due to land appreciation and had nothing to do with their management and investment decisions.