May 6, 2024
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Profile and Update
Citrus Grower Callery-Judge Grove
Investors might have an exit strategy.
Mike Vogel | 6/17/2011
LOXAHATCHEE — A few times in recent years, the 200 investors behind citrus grower Callery-Judge Grove, in business since 1962, have nearly realized an exit strategy from the 3,900-acre property. One plan called for putting 10,000 homes there, but local government opposed that. Smaller projects never got off the ground. Now, investors face a different exit —? a foreclosure suit filed by Prudential. General manager Nat Roberts says the mortgage is a long-standing agricultural loan that matured. Citrus disease, the real estate market and other issues have complicated refinancing. Roberts says he's confident the loan will be restructured successfully.
