Project Description

River Hall is a 2,000 acre parcel suitable for residential development. The property was owned by Forest City Enterprises (NYSE-FCEA), the nation’s largest publicly traded commercial real estate development company. In 2003, Private Equity Group identified River Hall as a prime acquisition target.

However, the seller had been disenchanted with numerous terminated negotiations and buyers unable or unwilling to perform on Forest City’s terms and conditions. In order to be successful, Private Equity Group, determined to distinguish ourselves from the crowd, presented an offer that would appeal to a sophisticated seller. A private meeting with Forest City’s vice chairman and president was arranged at our Fort Myers office, and we were able to negotiate, document and close the transaction in less than 90 days.

The key to the transaction was our experience in dealing with the needs of the seller. This applies not only to Fortune 500 Companies but also to ranchers, investors or family ownerships. River Hall was entitled and its site planned for over 2,000 residential units and 27 holes of golf. Private Equity Group sold River Hall to LandMar Group, a subsidiary of Duke Energy Corporation (NYSE-DUK).