HMG/Courtland Properties, Inc
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HMG/Courtland Properties, Inc is a real estate investment trust that owns and manages commercial real properties in Coconut Grove Florida.
HMG/Courtland Properties trades on the American Stock Exchange under the ticker symbol HMG. Their corporate headquarters is in Coconut Grove Florida.
HMG/Courtland Properties Include:
Grove Isle Hotel, Club and Marina (luxury resort), interests in a restaurant, marina and office/retail mall (Monty's), a corporate office building.
They also own two pieces of property for development -- a 70% interest in a commercial building in Montpelier Vermont and 50 acres of vacant land in Hopkinton Rhode Island. Plus, the company owns equity interests in privately held entities, limited partnerships. About 30% of these are related to real estate, and the rest in other types of businesses. It has a 49% interest in T.G.I.F. Texas, Inc (TGIF) which owns one net-leased property in Louisiana. It has a 50% owned subsidiary named Bayshore Rawbar, LLC (BSRB) operated Monty's.
One subsidiary is CII Spa, LLC (CIISPA). With Noble House Associates, LLC (NHA), an affiliated of the WEstgroup, they formed a Delaware limited liability company, Grove Spa, LLC (GS), which is owned 50% by CIISPA and 50% by NHA.
HMG/Courtland Properties, Inc is a REIT that is not well diversified, since it depends almost entirely on demand for recreation in one city in Florida.
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