$200 Million Price Tag Announced for Iconic Texas 80,000-acre Turkey Track Ranch -International Market Launch. Farm Credit Lenders Tapped to Underwrite and Finance.
Historic Sale Includes Mineral Interests Oil & Gas Revenues. Renewable’s Opportunity of Wind & Solar – Prolific Water Assets Feature 120-year-old Family Legacy Ranch is – Last of the Great Texas Legacies.
DALLAS, Oct. 20, 2021 /CNW/ — Following the May 2021 statement of the owners’ intent to sell, the Icon Global Group today announced the official launch of the International Marketing Campaign, disclosing the public list price of USD $200 Million, while concurrently releasing a first of its kind Official Launch Feature Video, the final in a lead up trilogy series of previously released cinematically produced, theatrical style trailers. (Icon Global Flying the Turkey Track \ Turkey Track Global Preview).
Capital Farm Credit, part of the nationwide Farm Credit System, is positioned to underwrite and finance the property in the upcoming sale process. “Our appraisal and lending team recently toured the ranch by ground and air, unanimously reporting its wildlife, livestock and resource diversification as ‘best-in-class,'” said Phil Peabody, Capital Farm Credit’s chief lending officer.
“After touring the ranch for the first time, I am convinced this is one of Texas’ most premier ranches,” added Mickey Nixon, one of Capital Farm Credit’s lead appraisers. “Its value is unique in many ways. Ranches of this size with a legacy of responsible stewardship, abundant water resources, outstanding recreational potential and historical significance are rare and seldom offered for sale.”
The offering includes a 40 % stake of mineral ownership and revenues from a number of existing oil and gas wells, as well as further development potential for more. Wind and Solar Rights will also convey, along with all agricultural and domestic water assets. Operating Equipment and Intellectual Property, name and brand are included in the sale.
Icon’s Bernard Uechtritz stated, “I and the team at Icon Global are proud to represent this exceptional family in the sale of their exceptional ranch for the first time in history, and in finding the next steward.
In fact, we’ve had early offers and more good prospects with scheduled tours. State, National, and International interest has been strong.
Just as in marketing the WT Waggoner Ranch for a record $725 million list price some years ago, I have not valued the Turkey Track in the typical, conventional manner, which is on a per acre basis of comparable sale value; thereafter discounting for its large size as most ranches and their traditionalist brokers mostly do. Conversely, we have instead priced this property by virtue of its one-time opportunity, its singular and unique attributes, and its scarcity, along with add value factors as many other ranches cannot do. Size in my book is always an add value, not a discount. There is no other like it in Texas, and there never will be. Therefore, it is incomparable.
This ranch is a stand-alone and it stands head and shoulders above anything else listed, sold or currently under contract. It is simply a One of One, and possibly the last of the great ones. Once it is sold, its likely to be owned for another 120 years.
In terms of its water and natural resources and as a truly authentic working cattle and wildlife habitat ranch, in my opinion the Turkey Track is the top choice in the state and in fact, the southern plains of Texas, Oklahoma and New Mexico. Any true cowboy, cattleman, conservationist, or experienced broker who has actually seen the ranch will share this opinion.
Water is life, and a means to life of every kind, and the Turkey Track has water assets in abundance. More than any other ranch that I know of. Seven creeks and multiple reservoirs, springs, sub irrigated bottom land and lakes, all leading to some twenty six miles of high value and coveted Canadian River boundary.
Beyond and before its obvious add value components of water, oil, and renewable energy resources, is its history…. Long before it was ever a ranch, it was already recognized as fertile, life giving and hallowed ground as evidenced by the Native Americans, early settlers and soldiers, like Kit Carson, whom all vied to occupy its grassy plains and water resources, in the well-chronicled, historic, two battles of Adobe Walls in 1864 and 1874. History is not something you can buy off the shelf and bolt on. You either have it or you don’t,” he said.
“We have taken an unconventional approach to an incomparable opportunity of a one-of-a-kind ranch in setting the price and in marketing.
Our story telling through an exceptional and groundbreaking style of marketing video, showcases this ranch, its values, authentic history, and operations like no other. It is appropriately dedicated to this family and their great legacy. I am proud of setting a new bar in this marketing accomplishment.”
About Capital Farm Credit
For more than 100 years, Capital Farm Credit has supported rural communities and agriculture with reliable, consistent credit and financial services. Capital Farm Credit is a proud member of the Farm Credit system and serves more than 21,500 members, with loans outstanding totaling more than $9 billion. Headquartered in Bryan, Texas, Capital Farm Credit has offices serving 192 of Texas’ 254 counties.
About Icon Global
Icon Global designs and implements strategic, tactical marketing and sales campaigns for unique, high-end properties globally. The company was founded by complex deal maker and International real estate advisor, Bernard Uechtritz. The Australian native most notably led the global marketing and sale of the 535,000 acre W.T. Waggoner Ranch in Vernon, Texas. Listed at $725 million. The largest ranch in North American under one contiguous fence, in a world record sale that still stands today. Icon Global is an Independently Licensed and Internationally Connected Full Service Brokerage Firm.
About Turkey Track Ranch
Historic “Prize of the Panhandle” is legacy of the Coble/Whittenburg empire. Known for natural resources and site of Battles of Adobe Walls of 1864 and 1874 – Decision to sell comes after twelve decades of stewardship.
The Turkey Track Ranch was pioneered in the era of legendary WT Waggoner, 6666 and Goodnight ranches. Boasting almost 80,000 acres under one fence and some 26 miles of Canadian River frontage, the ranch is a rare confluence of natural resources; containing an abundance of water, productive fertile grasslands, and diverse wildlife -set within rolling and rugged topography of mesas, draws, valleys and vistas interposed with open rangeland -epitomizing the western ranch lifestyle and famed fertile buffalo plains of yesteryear.
“It is with careful consideration and great emotion that we announce that, after 120 years of stewardship by our family, we have decided to sell our historic Turkey Track Ranch in the Texas Panhandle. For over a century this American landmark has been an integral element of our heritage. Generations of Cobles and Whittenburgs have created lifetimes of memories on the Turkey Track. We have enlisted Bernard Uechtritz of the Icon Global Group in Dallas to bring the Turkey Track to market in the latter half of 2021. The ranch has and will forever hold not only the monuments, memories, and legacies of our now multigenerational families but, significantly, maintains a very important place within the well-chronicled chapters of early Texas and US history; similarly, the ranch and its past stewards hold a prideful and acknowledged position of contributions to the evolution of modern-day ranching and cattle raising industries, as well as the Oil & Gas sectors of our great state.” – The Coble & Whittenburg Family
Turkey Track Ranch – print photos – photo credits listed per file:
Turkey Track Ranch – web photos – photo credits listed per file:
Turkey Track Ranch | Official Launch Feature Video:
Turkey Track Ranch | Icon Global Flying the Turkey Track:
Turkey Track Ranch | Turkey Track Global Preview:
Icon Global | Promo Deck
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SOURCE Icon Global Group
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