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Despite hire, large landowner has no new plans

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POSTED: May 13, 2010 12:44 p.m.
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Will Burgstiner

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Close to 5,000 acres of pristine land along the Medway River at the Midway I-95 interchange in Liberty County will not be developed into a master planned community any time soon, says Foram Group Chairman and CEO Loretta Cockrum.
“Foram has no plans to develop Laurel View in the near future,” Cockrum said Tuesday. “In 2009 we put a 15-year conservation easement on approximately 3,000 acres.  We may look at certain opportunities for some commercial development at the interchange if there is demand and incentives for the quality of development that we believe would be appropriate.”
When the real estate management company eventually develops the land, project plans could include marina golf and residential and commercial sites, according to the company Web site.
The Foram Group specializes in long-term development and acquires and manages properties for “high net worth families and individuals,” according to Diedre Krause, company spokesperson. When the real estate investment company was established in 1978, it managed clients’ large rural farm and timber properties, Krause said.
The company has properties in Georgia, South Carolina, Florida and Colorado. In addition to the Laurel View property, the Foram Group owns more than 900 acres of commercial and residential developable property off I-16 at the Pooler Parkway Interchange near Savannah.
“With regard to our expansion plans for Foram in Georgia, we are back in the market to acquire very high quality real estate for our investment portfolios,” Cockrum said. “We are also representing owners and lenders, such as Savannah River Landing, to preserve and enhance the value of their real estate assets.”
Cockrum stressed Laurel View and Savannah River Landing are owned by “separate entities that have no relationship to each other.”
Savannah River Landing is a 54-acre projected development located along the Savannah River just east of downtown Savannah.
Foram recently hired Will Burgstiner, a real estate sales and project management veteran, to oversee the company’s property portfolio in Georgia and South Carolina.
“The addition of Will (Burgstiner) to our platform was a critical step in our business plan,” Cockrum said. “Will is recognized as a leader within brokerage and real estate management in the Southeast region and we plan to leverage his experience and knowledge to the fullest advantage for our portfolio’s direction.”
Burgstiner is a Savannah native who began his real estate career in 1981 as a broker involved in both residential and commercial sales. He then worked for International Paper Realty for 18 years.
Burgstiner said Tuesday he was drawn to the Foram Group’s development philosophy, which he described as “steady, purposeful, and generational in its perspective.”
“They’re not looking at the fastest way to make money,” he said. Burgstiner said the company puts a lot of forethought into its projects, and attempts to preserve a property’s innate environmental beauty.
“Keeping it (Laurel View) as natural as possible would be one of our goals,” he said.
Burgstiner said a portion of Foram’s property in Liberty County is under long term lease to the Dorchester Hunting Preserve. This arrangement helps maintain the land’s value and natural condition, he said.
For more information on the Foram Group, call 912-651-0080 or go to www.ForamGroup.com.
 

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