Agreement for $565 Million Purchase of 382,834 +/- Acres

Dean Saunders, ALC, CCIM and Jack Vogel of Coldwell Banker Commercial Saunders Real Estate in Lakeland, Florida have facilitated the sale agreement on behalf of their buyer, AgReserves, Inc. a tax-paying affiliate of The Church of Jesus Christ of Latter-Day Saints.

The sale agreement is for $565 million for 382,834 +/- acres of timberland in the Florida panhandle. The land is currently owned by the St. Joe Company.