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Stan Kroenke Acquires Waggoner Ranch In Vernon For $725M

Property Image
SOLD
$725,000,000
Joel Leadbetter
Bernard Uechtritz
+ 5

Texas

See Similar Deals
Other22,215,600,000 SF
Sold 02/09/2016
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Property Image
SOLD

Stan Kroenke Acquires Waggoner Ranch In Vernon For $725M

Vernon, Wilbarger County, TX, USA & Vernon, Wilbarger County, TX, USA

See Similar Deals
Other22,215,600,000 SF
Sold 02/09/2016
Joel Leadbetter
Bernard Uechtritz
+ 5
Contact now

Summary

TEXAS
Asset Type:Other
Price Per Square Foot:$0
Total Square Footage:22,215,600,000 SF
Transaction Type:Sale

The Waggoner Ranch, an agricultural asset located in Vernon, Wilbarger County, was sold in a closed transaction on February 9, 2016. The property spans 510,000 acres and was purchased by Stan Kroenke for a price of $725,000,000. The transaction involved the sale of the ranch from seller Vernon Wells to buyer Stan Kroenke.

Summary of transation details

  • Property Type: Agricultural
  • Transaction Amount: $725,000,000
  • Address: Waggoner Ranch, Vernon
  • Market: Wilbarger
  • Acres: 510,000

The deal was facilitated by multiple brokers, representing both the buyer and the seller. Joel Leadbetter from Hall and Hall, Sam Connolly from Kroenke Ranches, Bernard Uechtritz from International Realty, and Sam Middleton from Chas. S. Middleton & Son all played a role in the transaction.

Players

1 deal$725M volume
BROKER


Bernard Uechtritz
1 deal$725M volume
BROKER

Sam Middleton
2 deals$725M volume
BROKER

1 deal$725M volume
BROKER

1 deal$725M volume
BROKER

4 deals$1.2B volume
BUYER

4 deals$1.2B volume
BUYER

2 deals$725M volume
SELLER

Details

SOLD
IMAGE: Joel Leadbetter, Bernard Uechtritz, Stan Kroenke, & Sam Middleton DATE: 02/09/16 ADDRESS: Waggoner Ranch CITY: Vernon MARKET: Wilbarger ASSET TYPE: Agricultural SELLER: Vernon Wells BUYER: Stan Kroenke BROKER: Hall and Hall-Joel Leadbetter,Kroenke Ranches- Sam Connolly,International Realty-Bernard Uechtritz, and Chas. S. Middleton & Son- Sam Middleton PRICE: $725,000,000 ACRES: 510,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$38,666,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$2,575,771.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,436,869.88
Annual Debt Service$41,242,438.53