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Appraisers: Oaky Woods sellers got sweet deal in 2004

Appraisers: Oaky Woods sellers got sweet deal in 2004
January 5, 2011 --

The site of the Oaky Woods wildlife area sold for such a sweet price in 2004 that the sale cannot be used to determine a value today, state appraisers say. The state last week forked over $2,860 an acre — 75 percent more than the ’04 price — for a portion of the tract. A subsidiary of Synovus Financial, the Columbus-based banking giant that’s lost a pile on bad real-estate loans, pocketed about a third of the proceeds.