Foreclosed 8,425-Acre Tract in Western Flagler Sells for $14.6M

Property sold in 2005 for over $50M

Palm Coast, FL – December 22, 2011 – According to public records, an 8,425-acre tract bordering Crescent Lake in Western Flagler County has been sold for $14,637,000. Crescent Timber LLC bought the property from Treesource LLLP in 2005 for $54,405,000. A mortgage for $36,000,000 was recorded at the time. Farm Credit Bank of Texas foreclosed on the property in October. Farm Credit subsequently transferred it to Crescent Lake Ranch LLC, wholly owned by Farm Credit. A deed dated December 15, 2011 conveyed the tract to Troy J. Link Enterprises LLC, a Wisconsin limited liability company, of Minong, Wis., for $14,637,000. The deed recording generated doc stamps totaling $102,459.

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2 replies
  1. W. Carter
    W. Carter says:

    Acreage difference

    Headlines and article state 8,425 acres and anothe place states 5,425. Which is correct? This 3,000 acre difference certainly changes the picture.
    W. Carter
    Valdosta, GA

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