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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
John D. Klopfenstein Executive | Controller and Chief Accounting Officer | N/A | John D. Klopfenstein is the Controller and Chief Accounting Officer at FRP Holdings. Further details about his career history or external roles are not provided in the documents. | |
David H. deVilliers, Jr. Board | Vice Chairman of the Board of Directors, Advisor to the President & COO | N/A | David H. deVilliers, Jr. has over 45 years of experience in real estate development and has been with FRP Holdings since 1988. He served as President until January 2025. | |
John D. Baker II Board | Chairman of the Board of Directors | Director of Jacksonville Electric Authority, Executive Chairman of Florida Rock and Tank Lines, Inc., Director of The Jacksonville Civic Council | John D. Baker II has extensive leadership experience in the rock mining and real estate industries and has been associated with FRP Holdings since 1986. He served as CEO until May 2024. | |
John S. Surface Board | Director | CEO of Covius Services, Board Member of Covius Holdings, Inc., Trustee at The Bolles School | John S. Surface has extensive experience in corporate strategy and leadership. He joined the FRP Board in 2022. | |
Margaret B. Wetherbee Board | Director | N/A | Margaret B. Wetherbee has a legal background in commercial real estate transactions and joined the FRP Board in 2019. | |
Matthew S. McAfee Board | Director | Founder of Driver McAfee Hawthorne & Diebenow, PLLC | Matthew S. McAfee is a practicing real estate lawyer with over 30 years of experience. He joined the FRP Board in 2024 and serves on several committees. | |
Nicole B. Thomas Board | Director | Hospital President of Baptist Medical Center Jacksonville, Board Member of Federal Reserve Bank of Atlanta, Tiger Academy Jacksonville, OneJax Advisory Board | Nicole B. Thomas is known for her leadership in diversity and inclusion policies. She joined the FRP Board in 2022. | |
William H. Walton III Board | Director | Co-Founder and Managing Member of Rockpoint Group, LLC, Board Member of Boston Properties, Inc., Crow Holdings | William H. Walton III brings extensive real estate investment experience to the FRP Board. He joined in 2015. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Vulcan Materials Company | Leases mining locations from FRP Holdings | Mining Royalty Lands | Revenue of approximately $9.61 million (23% of $41.77 million in FY 2024) |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Astatula, Florida 1,500-acre property | 2022 | FRP Holdings acquired a 1,549-acre property in Astatula, Florida for $11.6 million, which holds approximately 22.5 million tons of sand reserves and features a mining lease with Vulcan Materials. This strategic deal, marking the first addition to FRP’s Mining Royalty segment in nearly a decade, is poised to boost revenue starting Q2 2022 and builds on the property’s $1.37 million royalty history in 2021. |
Recent press releases and 8-K filings for FRPH.
- Net income increased 31% to $1.7 million in Q1 2025 despite a 19% decline in operating profit, driven by robust contributions from the Multifamily, Development, and Mining segments .
- Pro rata NOI grew by 10% YoY, with the Multifamily segment up 3% and Mining Royalties segment up 19%, reflecting adjustments from previous royalty overpayments .
- Several new industrial projects and joint ventures are underway, including upcoming industrial warehouse initiatives in Lakeland, FL, Broward County, FL, and expansion efforts in Maryland set to begin in Q2 2025 .
- The Industrial segment faced challenges with vacancies and a significant tenant default impacting overall NOI .
- The CEO cautioned that overall NOI may be flat or slightly negative in 2025 due to ongoing stabilization challenges and temporary operating headwinds .