This column is part of a regular weekly series highlighting the biggest land sales recorded each week through the Lands of America Comparable Sales program. To learn more and participate in the program, click here.
Congratulations to Kerry Mormann & Associates for completing the sale of Santa Barbara’s 1,800-acre Las Varas Ranch. This stunning Pacific Coast landscape was listed as sold for $70 million on February 1 via the Lands of America Comparable Sales program.
Stretching across rolling ranch land and oak-filled canyons between the Pacific Ocean and Los Padres National Forest, the property includes two miles of oceanfront acreage as well as access to the coveted local surf break at Edwards Point.
It was reported in December 2018 that Charles Munger, a Montecito billionaire and vice chairman of Berkshire Hathaway Inc., was planning to donate the property to UC Santa Barbara.
“This is a great visionary gift to our campus from philanthropist Charles T. Munger, who is interested in the long-term benefit it can provide to UC Santa Barbara,” UCSB Chancellor Henry T. Yang
said in a statement at the time. “We are immensely fortunate to have been entrusted with this coastal jewel.”
According to reports, the university will maintain the ranch as working agricultural property for the foreseeable future.
Top 10 largest and most expensive land sales for this week:
The Lands of America Comparable Sales program is available to participating platinum and basic sellers through the Land.com Network’s Property Control Center. Click here for more information about participating in the Comparable Sales program.