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Parker Ranch sells real estate business


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POSTED: Wednesday, November 04, 2009

The Big Island's Parker Ranch, which was founded more than 160 years ago and is one of the largest ranches in the nation, has sold its real estate brokerage as part of the reorganization plan it announced last month to combat difficult economic conditions and continued operating losses.

Clark Realty, one of Hawaii's largest independently owned real estate brokerages, will acquire the assets of Parker Ranch Realty on Dec. 1, said Bill Maris, Parker Ranch's chief operating officer.

“;This change is part of the overall strategy as Parker Ranch Inc. transitions out of its noncore businesses, including general real estate brokerage,”; Maris said. “;The ranch is quite pleased that a strong kamaaina company such as Clark Realty has stepped forward to acquire these assets.”;

Putman D. “;Putty”; Clark, president and chief executive officer of Clark Realty Corp., said the acquisition will create new opportunities for Hawaii island's largest real estate firm.

“;It brings together some of the most talented Realtors on the Big Island and will strengthen Clark Realty's presence in a very positive way,”; Clark said.

After the current restructuring, which will refocus on livestock production and land-resource management, Maris said the ranch will explore other moneymaking opportunities, including wind or solar energy production, biomass production, wildlife habitat restoration and other land-based uses.