US (KY): Frostproof firm buys 1,475 acres in Charlotte County
The deal comes as the state's citrus growers contend with the citrus greening disease, which is killing trees and shrinking Florida's signature crop to the lowest level in decades.
The buyer of the property on State Road 31 in Charlotte County was 734 LMC Groves LLC, a Frostproof company managed by Thomas Brian Powers, Clayton G. Wilson and Jerry L. Brewer, records show.
Records show that LMC Groves LLC financed its purchase with an $11 million loan from Prudential Mortgage Capital Co. The price is about $8,300 per acre. The seller was TRB Groves LLC, an Orlando company that paid $9 million for the grove land in September 2000. That was roughly $6,101 per acre.
Source: heraldtribune.com
