The Reid Park Zoological Society (RPZS), a non-profit membership and fund-raising organization for the Reid Park Zoo sold 765 acres of raw land for $3 million ($3,922 per acre), known as the Ruby Star Ranch. The property included a 2,987-square-foot ranch house (built 1945). The Ruby Star Ranch was a donation made to RPZS in 2010.
Nancy Schegel, Director of RPZS said, “The use of the proceeds will be used to support the mission of the Reid Park Zoological Society, that is to enhance the value of Reid Park Zoo to the community.” The Society provides quality service and support to Reid Park Zoo and the community through education, financial resources and public awareness.
The buyer, Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) is a leading international natural resources company with headquarters in Phoenix. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold, molybdenum, cobalt, oil and gas. FCX has a dynamic portfolio of operating, expansion and growth projects in the copper industry. FCX is also the world’s largest producer of molybdenum and a significant gold, oil and gas producer.
The Ruby Star Ranch will give Freeport-McMoRan additional flexibility should the company integrate Twin Buttes with its existing Sierrita operation, and helps ensure sufficient space needed to maintain mining operations over the long term.
There were no brokers involved in the transaction.
For information about the Reid Park Zoological Society, visit www.tucsonzoo.org.
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