Nebeker Ranch Carry Over Water Rights
The seller owns property within the Antelope Valley Groundwater Basin and desired to monetize excess water rights.
01 The Opportunity
The seller owns property within the Antelope Valley Groundwater Basin and desired to monetize excess water rights. The recently approved adjudication of the groundwater basin established a Water Master Board to implement the terms of the water rights provisions of the adjudication, including transfers between pumpers. However, to date, no transfers of unused, “carry over” water rights had been completed.
02 The Results
The team identified a pumper who operates a nursery business and had recently learned that they were not allocated any water rights through the adjudication process. Because of this, they had to cease pumping groundwater from their wells until they could acquire water rights and legally restart pumping. The team was able to successfully negotiate the first transfer between private parties approved by the Water Master Board which will provide an approximate three-year supply of water to the buyer.
Meet Our People
Greystar GP II LLC • Urban Residential
Greystar GP II, LLC acquired and will supply the seller with improved office space, designated parking stalls to support the cathedral’s ministry and developing a new high rise apartment community.
KT Urban and Maxxum Development • Urban Residential
This parcel was owned by two entities in a partnership that had no issue resolution or a buy/sell agreement built into the partnership.