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Fairholme's Piece of Florida

Bruce Berkowitz says fund holding St. Joe holds a valuable stake of land in the panhandle that will benefit from a new international airport.

Fairholme's Piece of Florida
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Michael Breen: We had spoken before about, you have St. Joe's, that's one real estate play. That's a really battered down area. I'm wondering if you are sniffing around in that space and finding anything?

Bruce Berkowitz: St. Joe's, most people don't ask me about St. Joe's, so I feel compelled to answer. But St. Joe's land, a little under 600,000 acres, 70% of the land is within 15 miles of the Gulf.

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Michael Breen does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.