Appraisal Highlights

 The Babcock RanchThis is a 17,800-acre property that straddles the Lee County and Charlotte County lines. The property is part of a 91,000-acre parent property that was purchased by Syd Kitson and Morgan Stanley in 2006. The property was appraised considering all of the development approvals that had been granted by the local communities and included 19,500 residential units and six million square feet of commercial space. The property has many unique characteristics that required study and impact on the valuation analysis including: an active rock mine with permits to mine until the year 2030; a 10,000-acre watershed that can pump 70 million gallons of freshwater per day; and a wilderness tour facility with approximately 50,000 visitors per year.
   
Opus 1 & 2This site is located in the heart of downtown Miami. More specifically, it is located along Biscayne Boulevard at NE 12th Street, which is across the street from the new Performing Arts Center. The owners of the property where in the process of developing the property with over 1,000 residential units in three, high-rise towers benefiting from unobstructed views of Biscayne Bay. The buildings were designed by well-known architectural firm Architectonica. The Florida Department of Transportation required the site for a realignment of I-395. A valuation was required to estimate compensation due to the property owners for their time and effort. Typically, properties do not sell mid-stream during the development process. This valuation assignment assumed a hypothetical sale during the development process and required extensive interviews with other area multi-family developers to determine the value created by property owners/developers.

   
Icon at Las OlasThis property is adjacent to the historicial Stranahan House in Downtown Ft. Lauderdale and was the subject of a lengthy lawsuit and condemnation case. After the case was resolved, the developers moved forward to develop a 272-unit high-rise along the New River. The appraisal was prepared for a local lender and included the valuation of 40 Transferable Development Rights (TDRs).

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