West Palm Beach, FL (October 20, 2010)—United States Sugar Corporation (U.S. Sugar), one of the largest producers and refiners of sugar cane and citrus in the United States, closed on the sale of 26,791 acres to the South Florida Water Management District (the District) for $197,398,372.08.  Gunster represented U.S. Sugar in the land deal which transferred ownership of the agricultural land to the District with an option to purchase an additional 153,000 acres over the next ten years.

This landmark sale took nearly three years to negotiate and close; it involved extensive negotiations, environmental analysis, contract preparation, and title review.  Gunster attorneys working on behalf of U.S. Sugar  included Danielle DeVito-Hurley and Daniel M. Mackler from the Real Estate Practice Group, and Rick Burgess from the Environmental Practice Group.

“This transaction is significant in furthering Florida’s efforts to restore the Everglades.  Our client should be credited for being dedicated to the District’s restoration plans and flexible enough to bring this deal to a successful conclusion,” said Danielle DeVito-Hurley.

“This transaction also illustrated the depth that Gunster can offer its clients in complex, multi-disciplined transactions and our ability to help facilitate public/private transactions that create opportunities to benefit everyone involved”, said Dan Mackler, the head of Gunster’s Real Estate Practice Group.

This land acquisition is the first phase of an executed purchase agreement with options to buy another 153,000 acres over a ten year period.  If the District exercises its options, the total present value of the land would exceed $1.1 billion and, together with the already acquired 26,791 acres, totals approximately 300 square miles.  This would represent one of the most significant land acquisitions by the State of Florida to date.

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