St. Joe engages Bank of Montreal on port development

Published: Thursday, October 4, 2012 at 09:59 AM.

“They will be telling a story, not in a broad-based marketing way, but in a surgical, focused approach.”

In addition to providing an equity side to the equation, Gonzalez said, the Bank of Montreal also brings expertise in infrastructure needs and matching clients to infrastructure.

“Their preference is to make the economics work,” Gonzalez said. “They are very well-rounded.”

Gonzalez also emphasized that the Bank of Montreal would be looking at the entire port infrastructure, not just St. Joe Company lands such as the mill site and deepwater bulkhead, but also Port Authority lands, including the old Arizona Chemical site.

The goal, Gonzalez has emphasized for months, is to market the entire acreage between St. Joe and Port Authority combined, some 300 acres with rail, natural gas wells, water resources and a barge bulkhead.

“The story has to be framed more broadly than just St. Joe land or Port Authority land,” Gonzalez said. “We are excited. These folks are really selective. We are really excited to have been able to engage them.”

Port Authority board member Patrick Jones added, “It is excellent new, very exciting.”

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