Thursday, December 15, 2016

Texas ranches on the market, just in time for holiday shopping season


The 14,500-acre Texas ranch, called The Reserve & Sulphur Bluff Ranch

The Texas land broker who played a pivotal role in the $725 million sale of a West Texas mega-ranch to Stan Kroenke has decided to take the Lone Star ranches he's marketing to the Aspen slopes before the holidays — just in time for last minute Christmas shopping.

That is, if you can afford the price tags, which range from low-end ranches at $50 million to a New York-based metals manufacturer's Texas land holdings valued at $250 million.

And that doesn't even take into account a 5,000-acre ranch in Dallas County, which hasn't yet hit the market and will be previewed in Colorado as part of Bernard "Bernie" Uechtritz' self-proclaimed "roadshow," of ranches.
"Our Aspen real estate roadshow is one of several of our year-round marketing initiatives where we take our listings directly to the world marketplace to position our clients' property assets and opportunities first hand," said Uechtritz, who is the founder of the Icon Global Group brand.

"We highlight these directly into the view and appetites of some of the world's most astute high net worth investors and global lifestyle enthusiasts," he added.
Uechtritz, who played in the Snow Polo Championships last year, decided to bring the ranches to the Aspen slopes to get the ranch properties he represents in front of the eyes of movers and shakers throughout the world.

"People who want to buy these iconic properties in other parts of the world are there during this time of year," Uechtritz said, adding he plans to market them from mid-December to January in the Aspen Times, other multimedia publications, as well as in limos and high-end resorts and rental properties.
Some of the ranch and land properties include:
  • The Texas land holdings owned by New York-based metals manufacturer Alcoa Inc. (NYSE: AA), which is valued at $250 million. The property, known as Sandow Lakes Ranch, sits about 45 miles east of downtown Austin. It has been on the market since April and has attracted a lot of interest.
  • A newly built 14,500-acre ranch, called The Reserve & Sulphur Bluff, includes a hunting and sporting lodge in east Texas, which is part of a package worth an estimated $100 million.
  • A 5,000-acre ranch in Dallas County near Ferris, which will hit the market in the spring and is being marketed as a master-planned community development. The site sits about 15 minutes south of the city on Interstate 45.
Uechtritz, who is marketing the Dallas County ranch, said it could go for $20,000 an acre to $30,000 an acre based on current land values in North Texas.
"This land is not flat gumbo, but has incredible topography with beautiful views of the Dallas skyline," said the longtime land broker.

Even though North Texas real estate brokers didn't have all the details on the yet-to-land-on-the-market property, a number of brokers say the Dallas County ranch property could sell for about $5,000 per acre, depending on many factors.
With the trajectory of growth still moving northwest of Dallas, real estate sources say a master-planned community in this part of Dallas County could be a decade away from being realized.

"It sounds like honest to goodness ranch land and I can't remember the last time Dallas County allowed the drilling of minerals," said Michael Swaldi, a managing director at JLL, who specializes in land brokerage.
The master-planned developments are highly influenced by school districts, he said. The ranch sits in Ferris ISD, which Swaldi said he doesn't know enough about the school district to comment on its reputation.

"This could be a long-term hold deal," Swaldi said, adding investors aren't likely to put debt on the agricultural land. "I think it will sell to someone who can write the check and put it in a kid's or grandkid's trust fund."
Republic Property Group co-CEO Jake Wagner said the broader challenge is really valuing the ranch land, which sits in the hotbed of real estate activity in North Texas.

"We are in an extremely hot market and land values are at a premium and very high right now," Wagner told the Dallas Business Journal."Depending on what you are looking at they could go for 30 percent higher than what they were in the peak of the recession."

Either way, Wagner said this could be a good play for a would-be owner that has a long-term strategy, which will be important in "locking in the value of the land."
That hold could last two or three decades, said Wagner, who is in the midst of developing master-planned communities, such as Fort Worth's $6 billion Walsh development, with similar long-term holds.

Meanwhile, he said, the institutional capital flowing into Dallas-Fort Worth at the moment seems to want to turn their money every three to five years, which doesn't fit into a property like this one.

Metals manufacturer Alcoa puts its Texas land holdings outside of Austin on the market for $250 million.
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The 14,500-acre Texas ranch, called The Reserve & Sulphur Bluff Ranch, gives executives a retreat with cultivated fields, pastures and wetlands with a 65,000-square-foot limestone lodge (pictured). It is being offered as part of a bigger packages estimated to be worth $100 million.
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Another look at the limestone facade of The Reserve & Sulphur Bluff Ranch, which has its own private heliport.
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The 65,000-square-foot limestone lodge sits among the cultivated fields, pastures and wetlands at The Reserve & Sulphur Bluff Ranch in Texas.

The Reserve & Sulphur Bluff Ranch has its own vineyard on the ranch.
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The 65,000-square-foot lodge at The Reserve & Sulphur Bluff Ranch has hosted a number of functions over the years.
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The 65,000-square-foot lodge at The Reserve & Sulphur Bluff Ranch has hosted a number of functions over the years.
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Another look at the lodge at The Reserve & Sulphur Bluff Ranch in Texas, which has a full service spa and salon.
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The 2,500-acre ranch, being marketed under 'Somewhere in Texas,' gives residents a hidden retreat to entertain guests.
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The 2,500-acre ranch, being marketed under 'Somewhere in Texas,' gives residents a hidden retreat to entertain guests.
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Another look at the rolling ranch land, which sits about an hour from Dallas.
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The 2,500-acre ranch, being marketed under 'Somewhere in Texas,' gives residents a hidden retreat to entertain guests.
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The 2,500-acre ranch, being marketed under 'Somewhere in Texas,' gives residents a hidden retreat to entertain guests.
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The 2,500-acre ranch, being marketed under 'Somewhere in Texas,' gives residents a hidden retreat to entertain guests.
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Metals manufacturer Alcoa puts its Texas land holdings outside of Austin on the market for $250 million.
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Metals manufacturer Alcoa puts its Texas land holdings outside of Austin on the market for $250 million.
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Metals manufacturer Alcoa puts its Texas land holdings outside of Austin on the market for $250 million.
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Metals manufacturer Alcoa puts its Texas land holdings outside of Austin on the market for $250 million.
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Metals manufacturer Alcoa puts its Texas land holdings outside of Austin on the market for $250 million.
  • SHARE
Metals manufacturer Alcoa puts its Texas land holdings outside of Austin on the market for $250 million.
  • SHARE
The 14,500-acre Texas ranch, called The Reserve & Sulphur Bluff Ranch, gives executives a retreat with cultivated fields, pastures and wetlands with a 65,000-square-foot limestone lodge (pictured). It is being offered as part of a bigger packages estimated to be worth $100 million.
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