This column is part of a regular weekly series highlighting the largest land sales recorded each week through the Lands of America Comparable Sales program. To learn more and participate in the program, or to subscribe, click here.
Congratulations to Icon Global Group for their sale this week of Texas’ 11,800-acre Broseco Ranch, an award-winning cattle ranch known for its 2,000-plus-head herd of Red Angus cattle. This sale occurred on March 28, 2018, and was recorded through the Lands of America Comparable Sales program.
In a release announcing the sale, Broseco owner Philip English said, “We are not only really pleased with the results, but specifically, the manner in which they were achieved.”
The Dallas Morning News reports that the new buyer of Broseco Ranch—so-called for its establishment under the Brown family and former Brown Securities Company—is a unit of Amarillo-based Smith Ranches.
“Our family is additionally thrilled to be handing the ranch over to this particular new owner and land steward who will continue to run cattle here,” English said of Broseco’s new owner.
Located less than two hours east of Dallas, Broseco is notable not only for the quality of its cattle herd but a well-managed landscape that includes a 3,200-acre wildlife habitat along the Sulphur River. Two large lakes are stocked with Florida bass, while a trophy herd of whitetail deer roam the property.
Listed for sale at $34 million, the ranch sold in less than a year. It is currently the most expensive sale recorded in 2018 through the Lands of America Comparable Sales program, as well as among the five biggest land sales of the year so far.
“We ran a very aggressive, strategic and tactical global marketing campaign commencing in October of last year with a targeted close in the first quarter of 2018,” notes Icon Global Group founder Bernhard Uechtritz. “Our campaign was executed according to plan, went very well and we received a lot of really good offers.”
Icon Global Group recently brokered the sale of $59.5 million Barefoot Ranch, among the most expensive land deals of 2017. Uechtritz also led the historic sale of the 250,000-acre W.T. Waggoner Ranch in 2016 in partnership with Sam Middleton.
Read More: Bernard Uechtritz: Living Outside the Box
Land buyers can access Lands of America’s comprehensive database of historic sales information by purchasing a LandsInsight account ($199/year), while platinum and basic sellers receive complimentary access through the Land.com Network’s Property Control Center. Click here for more information about participating in the Comparable Sales program.