A team of Foley attorneys from across 8 offices represented AgReserves, Inc., a for profit affiliate of the Mormon Church, in a $565,000,000 acquisition from The St. Joe Company of approximately 384,000 acres of timber and rural lands in the Florida panhandle. The land includes the majority of The St. Joe Company’s timber holdings in Bay, Calhoun, Franklin, Gadsden, Gulf, Jefferson, Leon, Liberty and Wakulla Counties. AgReserves intends to maintain timber and agricultural uses of the lands. This acquisition makes the Mormon Church the largest private landowner in Florida.
In a transaction that spanned 8 months, a team of Foley attorneys guided AgReserves, Inc. through real estate, antitrust, title, environmental, tax, corporate and other legal obstacles, in connection with the acquisition of the property.