PROJECTS:

This partial list of projects provides a view of the firm's varied experience and capability.  To respect client privacy, names associated with each project have been omitted.  We will gladly provide specific client references to accommodate individual requests.  Projects fall into the following categories:

• Property Appraisals/ Valuation
• Real Estate Services/ Projects
• Other Consulting Services/ Projects

Contact us if you believe that we can help you with a similar project.  If your project falls outside our level of expertise, we may be able to refer you to a capable expert.

PROPERTY APPRAISALS/ VALUATION

Non-Industrial Landowner - Valuation for Disposition

On behalf of this Georgia landowner who was considering a sale of her properties (1,800 acres), the firm  completed a financial analysis to determine the optimum liquidation plan.  The analysis enabled the owner to formulate a management/sales strategy that best fit her long-term investment objectives.

Non-Industrial Landowner - Timber Appraisal

The firm recently completed a timber valuation for a landowner considering an additional property purchase.  It was determined that the seller’s timber volumes were overstated, resulting in the client rejecting the purchase, and thereby preventing a poor investment decision.

Non-Industrial Landowner - Valuation of Partnership Interest

The firm was retained to provide appraisal services associated with the creation of a family limited partnership on 850 acres in middle Georgia.  Ongoing share valuations are provided for gifting purposes.  Creation of the partnership has increased family participation in the operation, resulted in the efficient and gradual transfer of ownership to the next generation in a tax efficient manner, and serves as a business model to promote a good working relationship between the family partners.

Private Investor - Valuation of Leasehold Interest in Timberland

FRC appraised the leasehold interest in 30,000 acres of Alabama timberland being offered for sale.  A comprehensive cash flow projection and income valuation was prepared in accordance with the terms of the lease.  The valuation served to guide the investor in formulating an offer price for the leasehold interest.

Banking institutions -  Valuation of Large Industrial Forest Holdings for Sale Purposes

The firm was retained by two New York investment-banking firms on behalf of a major Forest Products Company to complete an investment analysis in anticipation of a complete liquidation of the company's 865,000 acres of  timberland holdings located in Georgia, Florida, and Alabama.  All bids received were within the projected range, and the top two bids were within 3% of FRC's appraised value.  The project culminated in a successful sale of the property.

Family Limited Partnership - Appraisal For Estate Tax

When the Georgia family patriarch and key shareholder of this large (30,000 acres) family timberland partnership died, the family (partners) retained FRC to prepare a comprehensive timber inventory and appraisal for estate tax and management planning purposes.  In addition to valuing the timberland assets held by the partnership, the appraisal included a determination of the market value of the partnership shares owned by the deceased, which served as the basis for estate tax payment.  FRC's experience and solid reputation for valuing timberland and partnership interest contributed significantly in avoiding an overpayment of estate taxes.

Timberland Investment Management Organization - Multiple Projects

Over the past 12 years, FRC has completed numerous valuation assignments in various southeastern states on behalf of this institutional investment group including the development of harvest schedules, cash flow analyses, market studies and comprehensive appraisals (to USPAP standards) of various estates including fee simple, leaseholds, and long-term timber deeds.  Assignments ranged in size from 500 acres to 90,000 acres.

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REAL ESTATE SERVICES/ PROJECTS

Large Non-Industrial Landowner

In order to complete a division of family assets and fund a stock repurchase, the firm was retained to market and sell over 100 parcels of land totaling in excess of 30,000 acres.  This marketing effort was accomplished over a two-year period and resulted in achieving all the client’s desired goals.

Non-Industrial Landowner - Property Disposition

After a recent review and inspection of all their properties, an owner identified two parcels for sale.  FRC listed, marketed, and sold the parcels on their behalf while providing assistance in implementing a tax free exchange for a significant portion of the sale proceeds.

Non-Industrial Family Partnership Acquisition of Property

A timber owning family with investment cash retained FRC to assist in finding and acquiring a property on their behalf.  We were successful in the effort, which added a property that fit the client’s desired acquisition and investment parameters.

Timberland Investment Management Organization

Many of our institutional clients sell land at specific intervals.  As part of our ongoing management responsibilities, we routinely assist in identifying and marketing individual properties.  Over the last several years of a particular fund’s term, we have successfully sold approximately 30% of their acreage at premium prices.

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OTHER CONSULTING SERVICES/PROJECTS

Non-Industrial Landowner - Division Plan for Family Estate

The firm was retained to represent one of two principles in the division of a family estate of 8,500 acres.  We provided quality control audits of the timber inventory and appraisal services to assure an equitable division of the property.

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