$725 Million Waggoner Ranch Sells
By Kirsten Niper
Dallas real estate broker Bernard Uechtritz, one of the seller’s representatives, arrived at the list price of $725 million by beginning with the per-acre value of other ranch sales in the area. Then, he counted the five operations on the ranch — cattle, horses, oil, farming, and water — as separate businesses.
Urechritz and real estate broker Sam Middleton, principal of Chas. S. Middleton, advertised across the globe, and soon pre-qualified buyers from the Middle East, China, Russia, United Kingdom, Germany, and Australia came to visit. One of the interested parties was Kroenke. “When it became listed, Stan and I talked about it, and he decided he wanted to look closely at it,” says Joel Leadbetter, Kroenke’s broker at Hall and Hall.
After touring the ranch by land and air, Leadbetter says, “Stan was intrigued with the land, its enterprises, its history and legacy in Texas.” The shareholders and trustees of the ranch moved forward with Kroenke in part due to his conservationist mindset and respectful treatment of his other ranches.
California Dreaming: A $500 million (Under Construction) Mansion
Nile Niami is developing the home, and broker Drew Fenton of Hilton & Hyland holds the listing.
Often referred to as “The One,” the mansion will be surrounded on three sides by a moat and other water features; a separate area with monitors, plus a guard gate for security; a 5,000-square-foot guesthouse with an infinity pool; and a “sky deck,” which will have a putting green, bar, a lounge area, and covered loggias, according to GQ.