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Economic Analysis of Partition Options for the Case of Graywood Ranch -
Kenwood, California

Client: Clement, Fitzpatrick, Kenworthy
dashed line separator Gruen Gruen + Associates (GG+A) was engaged by the law firm of Clement, Fitzpatrick & Kenworthy to evaluate the value determinants of alternative uses of a luxury inn, golf course, winery and residential uses on a beautiful, 80-acre ranch property located in Sonoma County, California. The legal issue was that the property is under multiple ownership with two of the three property owners wanting to jointly plan, entitle and market the site as one entity, and the third wanting to maintain control of his parcel. The layout of the ranch made it difficult to divide in kind to maximize both the site's market and entitlement potential. GG+A studied the relevant market values for alternative uses and recommended a development plan for the entire site.

A settlement was reached between those landowners who wanted to plan and market the site as one entity and the property owner who did not want to enter into a cooperative marketing and entitlement process.

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