April 18, 2001 – Attorneys Severin Beliveau and Michael Gentile of the
Augusta offices of Preti, Flaherty, Beliveau, Pachios & Haley, LLC,
successfully concluded several months of complex negotiations with multiple
parties that permitted the sale today of one of the largest tracts of Maine
timberlands in the state's recent history.
Richard H. Brown, chairman of the
board and chief executive officer of EDS, Inc. of Plano, Texas, and his wife
Christine purchased 20,000 scenic acres at Moosehead Lake, a region commonly
referred to as the jewel of northern Maine. The Browns are long-time Moosehead
Lake property owners and own a summer home on an island commanding a clear view
of the hills and three mountains on the property.
Beliveau and Gentile, with assistance from commercial, real estate and
insurance attorneys in the firm, negotiated the purchase of the property from
Mead Oxford Corporation, a major paper company in western Maine, and rights of
way to the property from abutting landowner Plum Creek Maine Timberlands, LLC.
The firm created East Middlesex Canal LLC, a limited liability company owned by
the Brown family, specifically for the purchase of most of the Township of East
Middlesex Canal.
The tract includes three-and-a-half miles of shorefront on Big and Little
Duck coves and timberland extending seven miles to the east. The parcel
includes Eagle Mountain, Little Spencer Mountain and a portion of Lobster
Mountain, most of Spencer Pond and several smaller ponds.
EDS, a company
founded by Texas businessman Ross Perot, is the leading global information
technology consulting and services company with reported 2000 revenues of $19.2
billion. EDS is based in Plano, Texas, and serves clients in 55
countries.
The Browns have summered on Moosehead Lake for nearly 10 years and decided to
purchase the East Middlesex Canal property because of their appreciation of and
affection for Maine's north woods.
"We purchased this property for personal reasons. We love it," Brown
said. "We think there is no place quite like it. We intend to
protect it through responsible timber management."
Brown noted the purchase was a "long-term timberland investment and in no way
a development opportunity."
The tract will continue to be managed by
professional foresters and will remain in Maine's tree growth program – news
that was warmly received by many of Maine's more vocal environmentalists and
conservationists.
Beliveau and Gentile said the sale is in the best interest
of all parties, including the State of Maine and its residents.
"The Browns
purchased the property to protect it from development and to insure the
continued current use," Beliveau said. "We are pleased Dick is a
recognized protector of the land. Unlike some recent timberland buyers, he
has no intention of developing the land. He has a summer place on the lake
and wants to enjoy it. He understands and appreciates the culture of the
area."
The forester and timberland broker involved in the sale was Gary
Bahlkow of LandVest Timberlands Group of Portland. Bahlkow said the
Browns' seasonal home is on an island with a view of the Spencer Mountains.
Preti Flaherty has offices in Portland, Bath and Augusta, Maine, Concord, NH and Boston, MA. With more than 80 attorneys, the firm counsels clients in the areas of business law, energy, environmental, estate planning, health care, intellectual property, labor and employment, legislative and regulatory, litigation, technology and telecommunications.
