A 5,000-acre historic ranch located on Leona River Road near Pearsall, TX, has been sold. The property, which is largely unimproved, presents development potential with multiple buildable homesites and extensive water access. Furthermore, it features over seven miles of high-fenced perimeter while maintaining its historic character dating back to the Republic of Texas.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $13.5M loan
• Buyer: Mark Seger - Wellington Development Company
• Broker: Robert Dullnig - Kuper Sotheby’s International Realty
• Seller: Estate of Eugene Kincaid III
• Market: Pearsall
• Acres: 5,000

Mark Seger, a partner at Wellington Development Company, facilitated the acquisition of the ranch, with support from Robert Dullnig of Kuper Sotheby’s International Realty as the broker representing the buyer. The deal emphasizes the potential for future development on this large tract of land, which integrates both historical significance and natural resources.