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Bank of America Buys Kluge’s Virginia Estate

Posted on March 3, 2011 by Land Report Editors

Bank of America paid $15+ million for Patricia Kluge’s legendary Virginia horse country estate at a foreclosure auction on the steps of the Albemarle Circuit Court House in February. The lender filed a foreclosure lawsuit last month after Kluge defaulted on…

Tagged with: Bank of America, farmland, Patricia Kluge, Sothebyâ€™s International Realty, Virginia
Posted in Auctions, Bankruptcy, Developers, Equestrian, Feature, News Desk, Recreation, Regional News, Residential Property, South

State of Georgia Acquires 10,015 Acres

Posted on February 21, 2011 by Land Report Editors

In December, the Georgia State Properties Commission unanimously approved the acquisition of 10,015 acres of land in Houston County for $28.7 million from Oaky Woods Properties LLC. The Middle Georgia acreage is part of 16,000 acres in Oaky Woods west…

Posted in 2010 Fall, Feature, Georgia, News Desk, Regional News, South, Stephen OKeefe

Energen Moves Into the Permian Basin

Posted on January 18, 2011 by Eric OKeefe

Birmingham-based Energen Corp. (EGN) announced the purchase of more than 40,000 acres in West Texas from SandRidge Energy (SD) in Loving, Reeves, Ward, and Winkler counties. Energen says it has identified 62 potential drilling sites in the 3rd Bone Spring…

Tagged with: mineral rights, oil & gas, South, West Texas
Posted in Minerals, Regional News, South, Texas

IP to Sell 163,000 Acres for $200 Million

Posted on July 22, 2010 by Land Report Editors

International Paper (IP) will sell 163,000 acres in the Southeast for a minimum of $200 million to an affiliate of Rock Creek Capital, a Jacksonville-based asset management firm that invests in unique, resource-rich land. According to wire reports, IP will…

Tagged with: International Paper, IP, Rock Creek Capital, Timber
Posted in Equities, Feature, News Desk, Regional News, South, Timber

$500 Million Everglades Deal Postponed Again

Posted on March 15, 2010 by Eric OKeefe

Florida Gov. Charlie Christ is getting a lesson that real estate brokers know all too well: big deals take time. It’s been almost two years since Christ announced the $1.75 billion purchase of 187,000 acres in the Florida Everglades from…

Tagged with: Broward County, Charlie Christ, Dade County, Everglades, Florida Crystals, Florida Everglades, U.S. Sugar
Posted in Eric OKeefe, Farming, Feature, News Desk, Public Land, Recreation, Regional News, South

Heath Shuler: Eye on the Prize

Posted on October 25, 2009 by Land Report Editors

Growing up in the 1970s, Heath Shuler saw quail hunting disappear from the mountains of his native North Carolina. “It occurred to me early on that if I wanted to hunt quail, I might have to buy property with good…

Tagged with: Heath Shuler, Mike Osteen, Rocky Evans, Wynfield Plantation
Posted in Conservation, Feature, Henry Chappell, Hunting, News Desk, Recreation, Regional News, South, Topics

Duke Energy Makes Major Investment in GreenTrees

Posted on June 23, 2009 by Land Report Editors

Duke Energy has become the lead investor in GreenTrees, a privately managed forest restoration program created and managed by C2I for landowners in the Lower Mississippi Alluvial Valley: Illinois, Missouri, Kentucky, Tennessee, Arkansas, Mississippi, and Louisiana. This enormous valley once…

Tagged with: Arkansas, Brandon Stafford, C2I, Carey Crane, Chandler Van Voorhis, conservation reserve program, CRP, Duke Energy, Eddie Lee Rider, GreenTrees, Illinois, kentucky, Louisiana, Lower Mississippi Alluvial Valley, Maggie Bryant, Mississippi, Missouri, Tennessee
Posted in Conservation, Eddie Lee Rider, Feature, Midwest, News Desk, Public Land, Recreation, Regional News, South, Timber

Crescent Resources Files for Chapter 11 Bankruptcy

Posted on June 15, 2009 by Eric OKeefe

Charlotte-based Crescent Resources filed for bankruptcy protection in Austin on June 10 listing assets and liabilities in excess of $1 billion. Founded in 1969, the developer is owned by Duke Energy and Morgan Stanley’s real-estate fund unit and has interests in…

Tagged with: Andrew Hede, Arthur Fields, Bankruptcy, Chapter 11, Crescent Resources, Debtor-in-Possession, Duke Energy, Eric O'Keefe, Morgan Stanley Real Estate Fund
Posted in Bankruptcy, Developers, Eric OKeefe, Feature, News Desk, Regional News, South, Southwest, Topics

Sold! “Nicest Lakefront Property in East Tennessee”

Posted on April 24, 2009 by Land Report Editors

Update: According to Chip Miller of NAI Knoxville, the Fort Loudon Lake property sold Saturday morning for $26.5 million to Bryan Testerman of Testerman Construction. That’s $54,000 per acre. Additional details to follow. Original Post: Nearly 500 acres just outside…

Tagged with: Al Kraemer Farm, Fort Loudon Lake, Grant Gannon, Knoxv, Knoxville, Tennessee
Posted in Auctions, Developers, Farming, Feature, Recreation, Residential Property, South

Florida: “It’s Almost Like a Fire Sale”

Posted on April 13, 2009 by Land Report Editors

A University of Florida study has put a staggering number on just how badly the economic crisis has impacted rural land values in the Sunshine State. The study concludes that land values plummeted upwards of 55 percent in 2008 from…