Samuel C. Alhadeff and Robert K. Edmunds Close First Portion of $50.1 Million Sale of Anheuser-Busch Ranch

Robert K. Edmunds represented client Anheuser-Busch in the $50.1 million sale of its ranch to be used as part of western Riverside County's system of open-space preserves. The Western Riverside County Regional Conservation Authority will pay $42 million over eight years, with an additional $8.1 million payment in 2020 for a total of $50.1 million.

The sale of the first portion of land – a $10 million, 250-acre piece just north of Temecula – closed in January. From 2013 through 2019, the Authority will acquire about 70 acres per year, with the final 200-acre piece coming in 2020. The acquired land will contribute to the conservation of 153,000 acres for the Western Riverside County Multiple Species Habitat Conservation Plan, adopted under the federal Endangered Species Act of 1973 to ensure the survival of 146 species of animals and plants in western Riverside County, California.

The acquired land also provides right of way for a much needed east-west transportation corridor. In an editorial published by the North County Times, the deal was labeled "a smart buy." The first parcel of the 964-acre ranch will be used to extend Clinton Keith Road to Highway 79 North, giving local commuters a quicker route to Interstate 215.