Steve Rooney Acquires 37000 Acre Cattle Ranch From Jock & Jamie Doggett For $50M
310 Camas Creek Rd
$50,000,000
Building Size
—
Asset Type
Farm
Closing
May 11, 2024
About this deal
AI
The property asset involved in the transaction is a 37,000-acre cattle ranch located at 310 Camas Creek Rd, White Sulphur Springs, MT, sold for $50,000,000. The expansive land is primarily utilized as a farm.
Summary of transaction details:
- Property Type: Farm
- Transaction Amount: $50,000,000
- Buyer: Steve Rooney
- Seller: Jock & Jamie Doggett
- Buyer's Representative: Ryan Flair - Hall & Hall
- Seller's Representatives: Mike Swan & Tim Anderson - Swan Land Company
- Sale Date: 05/11/2024
Steve Rooney, the founder of Precision Pipeline, acquired the ranch to fulfill his Western lifestyle dream and intends to maintain the ranch's operations along with other properties he owns in Colorado and Florida. The selling party, Jock & Jamie Doggett, engaged the services of Mike Swan and Tim Anderson from Swan Land Company for representation in this transaction.
On the Map
$50,000,000
Farm
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White Sulphur Springs Farm Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93