FTIL 12 – Buying Your Own Island (Part 2 of 3 part series)

This is a follow-up to FTIL #7 published back in April. The McCaws of cell phone fame (Craig McCaw founded McCaw Cellular and Clearwire) have listed the family’s 780-acre private island also known to the locals as James Island off the coast of Vancouver, BC for a mere… drumroll please, 75MM. The island among other things, used to host a former WWII-era dynamite plant and at one point had population of 800+. For the hefty price tag, amenities are aplenty…

  • Four-bedroom, 5K sq. ft. main residence
  • Six guest cottages
  • Gym, store, staff accommodations
  • Airstrip
  • And most importantly… Jack Nicklaus-designed golf course

The family explained their motivation for the sale – “they have the perfect storm of kids’ activities and no one wants to be left behind.” Huh? Anyway, does anyone have spare $75MM to make the purchase? Especially given the current economic conditions, there’s room to negotiate… Happy hunting!

James Island

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About Richard Lee
Experienced finance and operations professional. Currently partner in five companies, adjunct professor of economics at Columbia College and executive contributor to a small business blog (www.SMBmatters.com); following corporate finance, M&A and management consulting tenures with Orbitz and Diamond Technology Partners; and six years of service with the United States Army.

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