Developers

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

Interior Department Investigates Renewable Energy Speculators

Posted on June 3, 2009 by Eric OKeefe

Remember the Interior Department’s ongoing investigation into possible abuses of the Royalty-in-Kind program? Now the department’s Inspector General has started to look into possible abuses by companies seeking to develop renewable energies on BLM land. Three years ago, BLM received six applications…

Tagged with: BLM, California, Grant Gannon, Ken Salazar, Renewable Energy, Royalty-in-Kind, solar energy
Posted in Conservation, Developers, Energy, Eric OKeefe, Feature, Federal Policy, Minerals, News Desk, Pacific, Public Land, West

Sold! Montana’s Yellowstone Club Goes for $115 Million

Posted on May 19, 2009 by Eric OKeefe

CrossHarbor Capital Partners LLC paid $115 million to buy Montana’s Yellowstone Club out of bankruptcy court yesterday. The Boston-based private-equity firm agreed to pay $35 million in cash and assume $80 million in debt owed to Credit Suisse. CrossHarbor will also infuse up…

Tagged with: Credit Suisse, CrossHarbor Capital Partners, Edra Blixseth, Eric O'Keefe, Ralph Kirscher, Sam Byrne, Tim Blixseth, Yellowstone Club
Posted in Bankruptcy, Developers, Eric OKeefe, Feature, Golf, News Desk, Recreation, Regional News, Residential Property, Timber, West

Texas Senate Tackles Eminent Domain

Posted on May 17, 2009 by Land Report Editors

Four years after the Supreme Court handed down Kelo vs. New London, eminent domain reform continues. Earlier this month, the Texas Senate passed an amendment that would make it harder for the government to seize land from private landowners via…

Tagged with: eminent domain, Kelo vs. New London, Texas Legislature
Posted in Developers, Federal Policy, Grant Gannon, Public Land, Residential Property, Taxes

Sold! Utah’s Promontory Club

Posted on May 3, 2009 by Eric OKeefe

Yet another twist to a story we’ve been covering out of Park City, Utah. Last year, the Pivotal Group, developers of the 7,200-acre Promontory Club, threw in the towel and sought bankruptcy protection. At stake was more than $350 million…

Tagged with: Bankruptcy, Jack Nicklaus, Park City, Promontory Club, Summit County, Utah, Wasatch Mountains
Posted in Developers, Eric OKeefe, Feature, Golf, Recreation, Residential Property, West

For Sale: Montana’s Sun Ranch

Posted on April 28, 2009 by Land Report Editors

The jury is still out on my definition of dream property, but I’ll tell you this: Montana’s Sun Ranch is definitely in the running. Nestled on 18,000 acres just outside of Yellowstone National Park in the Madison Valley, the Sun…

Tagged with: conservation easements, Ennis, Fay Ranches, Fishing, Grant Gannon, hunting, Montana, Roger Lang, Sun Ranch, Yellowstone National Park
Posted in Conservation, Developers, Equestrian, Feature, Hunting, Montana, Public Land, Recreation, Residential Property, Timber, Water

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

Largest Drop in Rural Land Prices? The Ukraine!

Posted on April 16, 2009 by Land Report Editors

According to this ABC Australia report, land values around the world are plummeting. The hardest hit country? The Ukraine. The value of rural land in the Ukraine has plummeted a staggering 75 percent. The Australian news report indicates that the…

Tagged with: credit crisis, global recession, Grant Gannon, land values, Ukraine
Posted in Cattle, Developers, Farming, Feature, Grant Gannon, International

Developer’s Diary: Canyon Ridge

Posted on April 13, 2009 by Land Report Editors

When Mike Plant first set foot on the 5,700 breathtakingly beautiful acres of Northern New Mexico that would become Canyon Ridge, he knew he had found a gem. “I’m blessed, I’ve been around a lot of beauty, and anyone who…

Tagged with: Atlanta Braves, Chama, Chama River, Discovery Ridge, Eddie Lee Rider, Mike Plant, New Mexico, Northern New Mexico, Rio Arriba County
Posted in Conservation, Developers, Eddie Lee Rider, Feature, News Desk, Recreation, Topics

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…