JoeCamel
Well-Known Member
According to the sales record it was, I didn't go look at the deed.
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News OBJ Disney Acquires More Land Near Magic Kingdom
- Thread starter the.dreamfinder
- Start date
danlb_2000
Premium Member
Here is the sale history of the property.
and here is the history of the adjacent piece of land they bought last year. Compass Rose Corp is a Disney subsidiary.
Josh Hendy
Well-Known Member
Thanks. This is hard for me to interpret and maybe it's not completely up to date.
Evidently one of the parcels of land was split up into 16th shares as part of an estate or trust fund, and there are a lot of nominal $100 transactions where Lake Reedy Development Group LLC gradually acquired 1/2 interest ... but the transactions end in 2015.
The big transaction is where Lake Reedy LLC bought the other parcel of land for $1,250,000 from one of the same trustees from the parcel A 15 years ago ... and sells it to Disney allegedly for $0 last February.
Am I right in guessing, the Lake Reedy XXX LLC company(s) are actually agents working for Disney. They very slowly over 20 years have been buying out the previous owners of the land which was split up into shares as part of an estate. Finally bought the last share a couple of months ago and transferred the title to a Disney subsidiary. For $0 because Disney had paid for all the previous transactions.
HauntedMansionFLA
Well-Known Member
Mike Eisner?
peter11435
Well-Known Member
He’s going to be mad at you for calling him Mike
TiggersPooh
Active Member
I know it’s not likely but connecting property to Siedel would be amazing.
esskay
Well-Known Member
Yup Disney have always done it this way - lots of companies do.
Rolling up to someones house and saying "Hi I'm Disney, I want to buy your house" instantly adds a few zero's to the end of the price tag.
Given the proximity to MK
- It's just holding/conservation land
- It was pretty close and they probably don't want anything too big built on it.
I'd expect nothing at all to be done to the land. Even if there were it'd be something super dull like utilities or storage related.
DisneyRoxMySox
Well-Known Member
Here is some information on Lake Reedy Development Group, LLC. Perhaps someone can do some more sleuthing.
LAKE REEDY DEVELOPMENT GROUP, LLC - WINTER GARDEN UNITED STATES
www.commerceflorida.com
For reference here is the same sites info on Compass Rose:
COMPASS ROSE CORPORATION - LAKE BUENA VISTA UNITED STATES
www.commerceflorida.com
Josh Hendy
Well-Known Member
Ok ... it should be obvious from the following that I'm not a lawyer ...
1st parcel information copied and pasted above seems to be incomplete. The parcel was split up into many shares, but gradually consolidated (by 2015) into the hands of Richard W Glenn Trustee and Lake Reedy Development Group LLC. The LLC is owned by Pete Partin who is probably related to Gladys G Partin who was the original owner of the parcel. The transaction history is missing the part which would presumably show the parcel eventually being sold to Disney/Compass Rose (possibly via an agent such as Lake Reedy LLC).
2nd parcel was apparently seized for delinquent taxes and sold to Richard W Glenn Trustee (also involved in parcel 1) for $100, who 3 years later sold it for $1,250,000 to Lake Reedy LLC (Lester M Austin) who sold it to Compass Rose (Disney) for $0 presumably because he was acting as Disney's agent. Richard W Glenn was presumably acting as a trustee for others, possibly the same group of relatives who were involved in Parcel 1. I guess that the back taxes were paid off at some point, which then allowed Richard W Glenn to sell the property to the LLC on behalf of the trust.
Probably some complicated history here involving cousins who were heirs to property that had been acquired by (I'm guessing) the late husband of Gladys G Partin. Lake Reedy Development Group LLC was used by one of the heirs to hold the land, in which Richard W Glenn acted as trustee for the rest of the heirs. Lake Reedy LLC is unrelated to the heirs, but is probably an agent used by Disney to acquire the land anonymously.
Both parcels are described as "Vacant" in spite of the house or "camp" which I suppose for the purposes of taxation is a catchall for, "not residential".
Possibly one of the co-owners built the cabin because they wanted to keep cattle and fish on the lake (keeping a boat there at one point) and basically use the property as a hobby farm / vacation property.
danlb_2000
Premium Member
The sale records for the two remaining plots around the lake look much more straight forward.
Here is the small one, the owner appears to be a local Pediatrician.
Here is the large one. I did find Ching Yang on Linkedin who is a retired engineer for Orange County.
Here is the small one, the owner appears to be a local Pediatrician.
Here is the large one. I did find Ching Yang on Linkedin who is a retired engineer for Orange County.
Horizons1
Well-Known Member
You’re not wrong. Cattle industry prices fluctuate but depending on the size of your herd and quality of cattle you can see a good return. And land, especially in this area, is rarely a bad investment.
disneyC97
Well-Known Member
Hopefully they continue with the current thinking!
JoeCamel
Well-Known Member
I don't know. Do you see him as part of the sales history or is he a principle in one of the corporations that are involved?
DVCakaCarlF
Well-Known Member
Obj is Orlando business journal....
Jon_in_NC
Member
Hey, I can see my house on that aerial! Disney probably doesn't want any other future residents "quite" as close as we are.
They can always do an LAX over the decades.Hey, I can see my house on that aerial! Disney probably doesn't want any other future residents "quite" as close as we are.
This L.A. Neighborhood Will Soon Be Wiped Off the Map
The 1940s residential area near LAX has become a ghost town
www.lamag.com
disneyC97
Well-Known Member
WowThey can always do an LAX over the decades.
This L.A. Neighborhood Will Soon Be Wiped Off the Map
The 1940s residential area near LAX has become a ghost town
DisneyRoxMySox
Well-Known Member
Rereading some of the old threads I posted in today… and got caught in a rabbit hole. In regards to the larger portion of land around the lake and Ching Yang, I found this info (attached photos). Part of me wonders if they are holding this land (as well as the small acreage owned by the doctor) with them intent of a pay day from Disney.
