Search
 

Done Deal: 10,500 Acres Belong to Dallas Investor

DALLAS-A Dallas investor beats out a long list of would-be buyers for a 10,500-acre ranch within a 30-minute drive of the "Big D." Buyer Raleigh Investments intends to rename the ranch, retain its working status and have fun with the acquisition.

By Connie Gore | Updated on August 23, 2001

DALLAS-A Dallas investor, operating as Raleigh Investments, has taken control of 10,500 acres within a 30-minute drive of Dallas. Raleigh beat out a long list of buyers who sought the prized Valley Ranch in Kaufman County. The property’s original asking price was $8 million.

Darrell Hurmis, senior vice president of Henry S. Miller’s land and ranch division in Dallas, tells GlobeSt.com that the holding is being re-named Triple R Ranch. Raleigh intends to retain the working ranch status plus open it up for hunting. Down the road, the strategy is to parcel off developable acreage for ranchettes, says Hurmis. “It will be a fun farm for him,” he explains of the buyer’s intentions who signed final papers Wednesday.

The number of prospects lining up for the offering was “overwhelming,” Hurmis confides. “I was amazed.” But then, it’s not often that a property of that size, that close to Dallas, comes to market. Six hundred acres of the 10,500 holding of Southland Cattle Co. are used for a commercial sand and gravel operation.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.