Posted by Mark Washburn on Friday, July 22, 2005 at 9:56 AM By Mark Washburn / July 22, 2005 Comment
91,000 acre property acquired by West Palm Beach Developer In a major blow to conservation and environmental preservation in SW Florida, the 91,000 acre Babcock Ranch was acquired by West Palm Beach developer Kitson & Partners. While final figures have not been disclosed, it is thought that the deal significantly tops the $455M state offer that was rejected by the Babcock Family. Kitson & Partners was backed by Morgan Stanley Real Estate Fund to complete the transaction. This deal came about fairly quickly after the rejection of the State bid in April. Based on previous developments of Kitson & Partners, expect a large scale planned golf community for the Babcock area. Kitson & Partners projects include Ibis Golf & Country Club located in West Palm Beach, and Grande Champion, an 1,100-acre residential golf course community located in Daytona Beach. West Palm Beach developer snaps up historic land [News-Press]
Post a Comment
To post a comment about this blog entry, click here.