Sale of 380,000 Acres Came With 15-Year Anti-Development Restriction
About two dozen Greenberg Traurig attorneys advised St. Joe Co. on the sale of vast land holdings to the Mormon Church, now Florida's largest private landowner.
May 08, 2015 at 01:22 PM
8 minute read
Dan McCawley, Matthew M. Robbins, Jonathan S. Gelman and Kara L. MacCullough, Greenberg Traurig
In what is considered Florida's largest real estate deal in 2014, a Greenberg Traurig team represented St. Joe Co. in the sale of 380,000 acres of timber and rural land for $562 million to AgReserves Inc., a taxpaying affiliate of the Church of Jesus Christ of Latter-day Saints.
The deal catapulted the Mormon Church into the largest private landowner in the state, eclipsing St. Joe, which at its peak owned more than 1 million acres. AgReserves controls the 290,000-acre Deseret Ranches in Central Florida, a cattle, citrus, timber and vegetable farming operation dating back to the 1950s.
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