ADDED
The aggregate market value of the shares of Common Stock held by non-affiliates of the registrant as of June 30, 2025, the last day of business of our most recently completed second fiscal quarter, was $ 390,316,985 .
Form 10-K Summary 22 Signatures 23 3 T able of c ontents Preliminary Note Regarding Forward-Looking Statements.
is engaged in the real estate business, namely (i) leasing and management of industrial and commercial properties (the Industrial and Commercial Segment ), (ii) leasing and management of mining royalty land owned by the Company (the Mining Royalty Lands Segment ), (iii) real property acquisition, entitlement, development and construction primarily for apartment, retail, industrial, and office (the Development Segment ), and (iv) management of mixed-use residential/retail properties owned through joint ventures (the Multifamily Segment ).
Our investments in real estate partnerships not wholly owned by FRP which are conducted through limited liability corporations ( LLC ) are also referred to as joint ventures.
Currently this includes ten warehouses in three business parks, an office building partially occupied by the Company, and two ground leases all wholly owned by the Company.
This segment will also include joint ventures of commercial properties when they are stabilized.
Our Mining Royalty Lands Segment owns several properties totaling approximately 16,640 acres currently under lease for mining rents or royalties (this does not include the 4,280 acres owned in our Brooksville joint venture 50/50 with Vulcan Materials).
Through our Development Segment, we own and are continuously assessing the highest and best use of several parcels of land that are in various stages of development.
Our overall strategy in this segment is to convert all of our non-income producing lands into income production through (i) an orderly process of constructing new buildings for us to own and operate or (ii) a sale to, or joint venture with, third parties.
One of this segment's joint ventures, Camp Lake Venture IA, LLC is consolidated.
REMOVED
The aggregate market value of the shares of Common Stock held by non-affiliates of the registrant as of June 28, 2024, the last day of business of our most recently completed second fiscal quarter, was $ 415,362,228 .
The Company is a holding company engaged in various real estate businesses.
Our business segments are: (i) leasing and management of industrial and commercial properties (the Industrial and Commercial Segment ), (ii) leasing and management of mining royalty land owned by the Company (the Mining Royalty Lands Segment ), (iii) real property acquisition, entitlement, development and construction primarily for multifamily, industrial and commercial, or residential either alone or through joint ventures (the Development Segment ), (iv) ownership, leasing and management of apartment buildings through joint ventures (the Multifamily Segment ).
The Industrial and Commercial Segment owns, leases and manages in-service commercial properties wholly owned by the Company or through joint ventures.
Currently this includes eight warehouses in two business parks, an office building partially occupied by the Company, and two ground leases.
Our Mining Royalty Lands Segment owns several properties totaling approximately 16,648 acres currently under lease for mining rents or royalties and an additional 4,280 acres through our Brooksville joint venture with Vulcan Materials.
Other than one location in Virginia, all of our mining properties are located in Florida and Georgia.
Our Development Segment owns and continuously monitors the highest and best use of parcels of land that are in various stages of development.
The overall strategy for this segment is to convert all of our non-income producing property into income-producing property through (i) an orderly process of constructing new apartment, retail, warehouse, and office buildings to be operated by the Company or (ii) a sale to, or joint venture with, third parties.
We intend to transfer additional joint ventures from our Development Segment into this segment as they reach stabilization.