Kitson & Partners (K&P)

Company name:
Kitson & Partners (K&P)  Jobs (Visit website)
City & State: West Palm Beach , FL
Industry type: Real Estate Developers- Managers
Company Description:  
Kitson & Partners (K&P), headquartered in Palm Beach Gardens, Florida, is a real estate development company with three primary operating divisions: Communities, Commercial, and Clubs. Historically, K&P focused on developing large-scale master-planned communities in the Eastern U.S. such as Cherry Valley (Skillman, NJ), The Hills (Bedminster, NJ), and Ibis Golf & Country Club (West Palm Beach, FL).

In 2006, K&P purchased the Babcock Ranch (Babcock), one of the largest land acquisitions in the State of Florida. Babcock is located in Charlotte and Lee Counties and consists of 91,000 acres. Simultaneous with the closing, the State of Florida purchased 73,000 acres of Babcock for $350 million, thereby preserving 80% of the Babcock Ranch in the largest land acquisition in the States history.

Over the next 20 years, K&P will develop the remaining 18,000 acres of land through a master-plan that contains 19,500 residential units, six million square feet of mixed-use commercial space and 50,000 residents. The Babcock acquisition not only added six million square feet of commercial land to the K&P Commercial Division, but in January 2007 K&P acquired 11 existing retail shopping centers containing 1.6 million square feet. The 11 properties are well-located across Central and South Florida.

Due to K&Ps track record and strong relationships with its capital partners, K&P has secured a significant entity-level equity investment to further grow the company. K&P is now targeting to acquire $1Bn+ of residential land and mixed-use developments over the next 5-7 years and expects to harvest those investments over the next 10-15 years.
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