trending Market Intelligence /marketintelligence/en/news-insights/trending/wARvNN6SVjD6vq8-pjMjTw2 content esgSubNav
In This List

Consolidated-Tomoka Land sells controlling stake in unit for $97M

Video

According to Market Intelligence, December 2022

Blog

Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook

Blog

Japan M&A By the Numbers: Q3 2022


Consolidated-Tomoka Land sells controlling stake in unit for $97M

Consolidated-Tomoka Land Co. sold a controlling interest in a unit that holds approximately 5,300 acres of undeveloped land in Daytona Beach, Fla., for $97 million.

The buyers of the Crisp39 SPV LLC stake were Flacto LLC, Magnetar Longhorn Fund LP and Magnetar Structured Credit Fund LP.

Following closing, the buyers collectively own a notional 66.50% interest in the land joint venture, with Consolidated-Tomoka accounting for the rest.

Under the terms of the deal, the company will serve as the initial manager of the land joint venture.