White Oak Conservation Holdings LLC, a limited liability company managed by Los Angeles Dodgers owner Mark Walter, paid at least $16.9 million for the 7,400-acre White Oak wildlife conservation facility, resort and conference center, according to property records.
The Howard Gilman Foundation announced the sale of White Oak to Mark and Kimbra Walter on March 19, last Tuesday, but did not provide the purchase price.
As of this morning, two deeds shown online at the Nassau County Clerk of Circuit Courts website showed White Oak Conservation Holdings LLC made at least two purchases.
One is a $16.14 million purchase of White Oak Plantation from White Oak Plantation LLC and another is a $756,306 purchase of the administration building and IT building from Gilman Investment LLC.
The deeds were signed March 13 and recorded March 14. The property had been valued at $30 million, according to a Wall Street Journal report in April 2012.
While the Howard Gilman Foundation announced last week that it completed the sale of White Oak to Walter and his wife, Kimbra Walter, Florida public records show the plans were solidifying in early February.
Walter and Guggenheim Partners of Chicago filed an application Feb. 26 for authorization to transact business in Florida. Walter is CEO of Guggenheim Capital LLC and chairman and controlling owner of the Dodgers.
The "Application by Foreign Limited Liability Company for Authorization to Transact Business in Florida" was filed in the name of White Oak Conservation Holdings LLC with Delaware listed as the jurisdiction under which it is organized. It was organized Feb. 5.
"Real estate management" was the listed nature of business in Florida.
The street address of the principal office was listed as 581705 White Oak Road in Yulee, the location of White Oak.
The managing members or managers were listed as Mark R. Walter, Alejandro Longoria and Robert Fedoris, all of 227 W. Monroe St., 48th Floor, Chicago. Walter was listed as manager.
All correspondence was directed to Fedoris at Guggenheim Partners at the Chicago address.
"We are honored to be the new stewards of White Oak and its unique and valuable conservation programs, which Howard Gilman initiated and his staff so ably managed," Mark Walter said in the news release issued March 19 by the Howard Gilman Foundation.
White Oak is about 30 miles north of Jacksonville on the Florida-Georgia border.
With a conference center and lodging, the secluded property has hosted presidents and personalities, including former President Bill Clinton and ballet star Mikhail Baryshnikov.
"Our primary mission is to build upon the work already under way at White Oak to create an international model for the humane and effective breeding and repopulation of endangered species," Walter said.
The release said the Walters became interested in the property in late 2012. The Walters already support conservation programs in Texas and New Mexico and are supporters of the Lincoln Park Zoo in Chicago, said the release.
The Walters, White Oak management and advisers will "undertake a comprehensive strategic planning process to determine the most effective ways for White Oak to carry out its intended mission," said the release.
Mark Walter also serves as a trustee or director of several organizations, including the Solomon R. Guggenheim Foundation, Security Benefit Corp. and the EquiTrust Life holding company, and he is the controlling shareholder of Delaware Life Holdings LLC.
Kimbra Walter is a member of the board of directors of Chicago's Lincoln Park Zoo. She also is active in charitable organizations in the Chicago area that support the needs of economically disadvantaged children and families in need.
In April 2012, the Wall Street Journal reported that the Howard Gilman Foundation put White Oak Plantation up for sale.
The Journal said White Oak was a victim of the housing bust. The foundation operates the property with proceeds of its 96 percent investment in Gilman Building Products Co., a private lumber business founded by Gilman's family.
Revenue at the lumber company was hit hard by the housing downturn that began in 2008, according to the Journal. It said the value of the foundation's assets has fallen from $175 million in 2008 to $127 million at the end of 2010, according to tax filings.
It reported that the foundation initially responded to declining income from the building company by cutting back on program funding and reducing the White Oak staff by nearly half.
The Gilman family, founders of Gilman Paper Co. in Georgia, bought the plantation in 1938, according to reports. Howard Gilman died in 1998, leaving the Howard Gilman Foundation, based in New York, to run White Oak and support other causes. The Gilman International Conservation Foundation has since been created to help support conservation center programs and international efforts.
The Journal said the foundation estimated the value of the property at $30 million and hoped to find a wealthy individual or investors who might turn White Oak into a high-end resort or conference center.
The Journal said the plantation houses 270 animals, including rhinoceroses, the ostrichlike cassowary, cheetahs and giant eland, a type of large African antelope.
It said about 60 percent of the $5 million annual cost to operate White Oak goes toward upkeep of the animals.
Daily Record reporters toured the White Oak Conservation Center in June 2011. The center is a 600-acre facility in the center of the plantation.
Established in 1982, the center is involved in breeding and raising more than 25 species of endangered and threatened wildlife.
In addition to exotic animals, White Oak also is involved in breeding and preserving the Florida panther and the Mississippi Sandhill Crane.
The cheetah breeding program began in 1987. At the time of the tour, 141 cheetahs had been born at White Oak.
Jacksonville housing sales prices rise …
Lender Processing Services Inc. reported Monday that the average home sales price as of Jan. 31 in the Jacksonville area rose 0.5 percent to $144,000 from $143,000 as of Dec. 31 and was up 6.1 percent from $136,000 as of Jan. 31, 2012. Prices are rounded.
While Jacksonville's average home sales price rose over the month and the year, the price is 33 percent below the peak price of $215,000 in July 2006.
Lender Processing Services releases the LPS Home Price Index monthly based on its property and loan-level databases that cover more than 15,500 U.S. ZIP codes.
The company said the index represents the price of non-distressed sales by taking into account price discounts for real-estate owned and short sales.
Nationally, the January price of $208,000 was up 0.3 percent from December and was up 6.7 percent from January 2012. The price was down 21.4 percent from the peak price of $265,000 in June 2006.
… While foreclosure rates decline
The CoreLogic research firm reported Monday that the rate of Jacksonville area foreclosures among outstanding mortgage loans was 8.07 percent in January, down 0.91 percentage points from 8.98 percent in January 2012.
Jacksonville's foreclosure rate was almost three times as high as the national rate of 2.90 percent in January.
The mortgage delinquency rate also declined in January in Jacksonville. CoreLogic reported that 13.17 percent of mortgage loans in January were 90 days or more delinquent, down 1.19 percentage points from 14.36 percent in January 2012.
Crawford Contractor Connection to move in April
Crawford Contractor Connection, which said last week it will move within Southside and add more than 100 jobs over the next three years, said Friday its new positions include those in the customer contact center, contractor recruiters, sales staff, management and executives. It employs about 150 people.
CEO Larry Thomas said Crawford Contractor Connection will move in mid-April from 19,200 square feet of space at the Meridian Business Park at 5022 Gate Parkway, No. 304, to 29,615 square feet in Greystone Business Park at 10550 Deerwood Park Blvd., No. 109. It's less than a mile.
Both buildings are part of Taurus Investment Group Inc. Meridian Business Park also is the site of the expanding Deutsche Bank operations.
The City has approved a building permit for the tenant build-out at Greystone for Crawford Contractor Connection, part of the Atlanta-based Crawford & Co. claims management company. Dav-Lin Interior Contractors is the contractor for the $996,112 project.
Building plans show tenant improvements for executive offices, conference space, a boardroom, open offices, training space, a break room and more.
Kenneth Smith Architects Inc. is the designer.
Thomas said about 230 employees will operate in the new offices eventually. The other 20 employees are among those who telecommute.
Crawford & Co. describes itself as the world's largest independent provider of claims management solutions. It recently named Thomas as CEO of Contractor Connection.
Contractor Connection says in a news release that it provides insurers with a managed repair vendor network for residential and commercial property claims programs and has more than 4,500 member contractors in the United States and Canada.
Crawford Contractor Connection said it began in Jacksonville in 1996 and became part of Crawford & Company in August 1999 through an acquisition.
Camping World to North Jacksonville
Site plans are in review for Camping World at the former North Florida Hyundai site at 10101 Interstate Center Drive in North Jacksonville.
Plans show the 40,000-square-foot building would comprise an 8,000-square-foot showroom, a 12,000-square-foot office area and 20,000 square feet for RV repair. The project is on a 13.4-acre site.
Bueme Engineering Inc. is the project engineer. The property is owned by the Fred S. Hassan Trust.
Camping World has a location at 9012 Beach Blvd.
Camping World, based in Lincolnshire, Ill., says on its campingworld.com site that it is the nation's largest retailer of RV supplies, accessories, services and new and used RVs. The company was founded in 1966, growing from a single location in Bowling Green, Ky.
The company says it employs nearly 3,600 associates and serves more than 4 million RV enthusiasts with more than 100 retail locations and annual revenues topping $1.7 billion.
WorkSource, JAX Chamber plan summit
First Coast Workforce Development Inc., also known as WorkSource, will host a regional Workforce Summit from 11 a.m.-3 p.m. April 25 at the University of North Florida Herbert University Center.
The topic is "The People Part of Economic Development. New Workforce Strategies for a New Day."
The JAX Chamber is a partner in the event.
The keynote presenter is listed as Del Boyette, president and CEO of Boyette Strategic Advisors of Little Rock, Ark.
The event will feature a panel discussion about "The New Future in Education and Workforce Development" facilitated by Elaine Johnson, principal of Navigy and chair of WorkSource.
Panelists are listed as Jacksonville University President Tim Cost; Jacksonville Transportation Authority CEO Nathaniel Ford; Florida State College at Jacksonville interim President Willis Holcombe; JAXUSA Partnership President Jerry Mallot; and Duval County Superintendent Nikolai Vitti.
Tickets are $25. For registration or information, visit opportunityjacksonville.com.
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