July 23, 2018
Murray Wise Associates LLC and Crosby & Associates, Inc. (“CAI”) served as transactional advisors to the Latt Maxcy Corporation in connection with the sale of the El Maximo Ranch in Osceola County, Florida. The 38,000+ acre ranch was sold to The Investment Corporation of Dubai in April 2018 for $136.5 million after an extensive national and international sale marketing process.
“We were privileged to have worked closely with the Latt Maxcy Corporation on the sale of this historic property,” said Ken Nofziger of MWA. “It was a complicated transaction, and we are honored to have worked with Optimum Agriculture, the investment manager, and all the other professionals on this transaction to bring about a successful conclusion for both the buyer and seller.”
Located in central Florida, this property is one of the largest contiguous ranches in the Southeast. The sale of El Maximo Ranch marks the final transaction in a series of divestitures of this 150,000-acre agricultural property. El Maximo Ranch had been under the stewardship of the Latt Maxcy Corporation and the Wilson family for seven decades.
“A ranch of this size provides an excellent opportunity for the buyer to create a platform for future expansion in the Southeast,” said CAI President Ben Crosby. “It’s historically been utilized as a cattle ranch with various crops throughout the years, and has water permits that could allow for plenty of options in alternative crops and biofuel feedstock farming.”
"For farmers, bankruptcy isn’t always the end – sometimes it’s a new beginning." https://bit.ly/2HRJuA1
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#TBT to 5 years ago this week & the East Coast Brokers & Packers auctions in Florida and Virginia in which we sold over 10,000 acres of tomato producing farmland, storage and packing facilities, and equipment in partnership with @CrosbyAssocs @weeksauction and @WoltzRealEstate pic.twitter.com/aHYeZUgM1u
**REMINDER** - Meigs County, OH Open House tomorrow - Thursday, August 16th from 4pm-6pm EST at the Salem Township Fire Station #6 in Langsville, OH. 423 acres in 17 tracts PLUS a hunting lease up for auction! For more information, visit: http://www.murraywiseassociates.com/farmland-real-estate/auction/ItemId/127/Ohio/Meigs-County?utm_source=Email+Database&utm_campaign=1f40bb535c-AEP+-+Morgan_COPY_01&utm_medium=email&utm_term=0_d05924d421-1f40bb535c-216036305 … pic.twitter.com/3LCkBgbJis
Brooke Didier Starks with Meyer Capel says, "Plans that irrevocably lock farmland in arrangements for extensive years eventually run the risk of resulting in unrealistic outcomes."
Read 4 other tips here! http://www.murraywiseassociates.com/Blog/farm-succession-planning-5-thoughts …
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