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Pratt sells its landscaping unit to CoCal

By Rhines, Alisha Jeter
Publication: Northern Colorado Business Report
Date: Friday, November 2 2001

LONGMONT - Pratt Management Co., a $40 million Longmont real estate company, has sold its landscaping unit to Denver-based CoCal Landscape for an undisclosed sum.

Pratt Landscape, which at its height two years ago employed nearly 100 people, designed, built and maintained Pratt's 2.2 million

square feet of office space throughout Longmont, leased primarily to high-tech companies. Pratt has contracted CoCal to maintain the landscape of those properties.

The sale of the landscaping unit closed Oct. 1 after about two months of negotiations, said Frannie Follick-Hood, head of public affairs for Pratt Management.

Pratt created the landscaping unit in 1983 to support its real estate unit. Services included general landscaping, building and maintaining fitness trails, volleyball and basketball courts.

The sale is part of an overall transformation of the company announced last year. In the past, Pratt's operations included everything in house that was needed to care for tenants. Pratt is returning its focus mainly to its officeproperty portfolio, Follick-Hood said.

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Subject: Divestiture
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