Forestar Group

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Forestar Group Inc.
Type Public (NYSEFOR)
Website http://www.forestargroup.com/

Forestar Group Inc. is a real estate, mineral, and fiber resource company based in Austin, Texas. The company owns directly or through ventures about 368,000 acres (1,490 km2) of real estate located in ten states and 13 markets and about 622,000 acres (2,520 km2) of oil and gas mineral interests.[1].

Overview[edit]

The company operates three business segments: Real Estate, Mineral Resources, and Fiber Resources.

The real estate segment secures entitlements and develops infrastructure on its lands, primarily for single-family residential and mixed-use communities. The company owns over 300,000 acres (1,210 km2) located in a broad area around Atlanta, Georgia, with the balance located primarily in Texas. Forestar also actively invests in new projects principally in strategic growth corridors, which represent markets with significant growth characteristics for population, employment and household formation that make them attractive for long-term real estate investment.

The company has 23 real estate projects representing over 31,000 acres (130 km2) currently in the entitlement process, and 75 projects entitled, developed, or under development in eight states and 12 markets. The company sells land for commercial uses to national retailers and local commercial developers. In addition, the company will sell its undeveloped land, principally in Georgia, when it has reached its highest and best use. The company markets land for sale on its web site, http://landforsale.forestargroup.com [2].

Mineral resources is focused on maximizing the value from royalties and other lease revenues from its oil and gas mineral interests located in Texas, Louisiana, Alabama, and Georgia.

Fiber resources includes the sale of wood fiber, primarily in Georgia, and manages the company’s recreational leases.

Company history[edit]

The company’s origins date back to the 1955 incorporation of Lumbermen’s Investment Corporation, which in 2006 changed its name to Forestar (USA) Real Estate Group Inc. The company has a long legacy of residential and commercial real estate development operations, primarily in Texas. In 1991, Forestar and Cousins Properties Incorporated [3] formed Temco Associates, LLC as a venture to develop residential sites in Paulding County, Georgia, and in 2002 Forestar and Cousins formed CL Realty, L.L.C. as a venture to develop residential and mixed-use communities in Texas and across the southeastern U.S. Those ventures continue today. In 2001, Forestar opened an office in the Atlanta area to manage nearby land with a focus on its long-term real estate development potential. In 2006, Temple-Inland Inc. began reporting Forestar Real Estate Group as a separate business segment. On December 28, 2007, Temple-Inland distributed 100% of the issued and outstanding shares of Forestar’s common stock to its shareholders.

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