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Get a piece of Yellowstone right here!
Posted on 12/03/2012 9:02:01 AM PST by Uncle Chip
It was only a matter of time before a cash-flush investor bought the Broken O Ranch. Asking $132.5 million in cold hard cash, the 124,000 acre Montana farm is one of the largest agricultural operations in the Rocky Mountain West, offering an alluring investment opportunity to those bullish on soft commodities. Turns out one American billionaire agrees.
Stanley Kroenke, a real estate mogul worth $4 billion by Forbes’ estimate, assumed ownership of Broken O Ranch on Tuesday for an undisclosed price. Kroenke, known for his ownership of sports teams like the NBA’s Denver Nuggets and the NFL’s St. Louis Rams, is believed to have plunked down nine figures for the property, according to people familiar with the deal.
“Bill Moore obviously had the vision, expertise and wherewithal to assemble one of the finest cattle and farming operations in the United States. Mr. Kroenke looks forward to building on that incredible legacy,” said Sam Connolly, general manager of Kroenke Ranches, in a statement.
Prior to this purchase, Kroenke’s personal portfolio held an estimated 740,000 acres’ worth of U.S. real estate, making him the 10th largest landowner in America, according to the Land Report. With the addition of Broken O’s 124,000 acres, he is now the eighth largest in the country, eclipsing the Reed and Pingree families’ land holdings. At 864,000 acres, his holdings still trail million-plus-acre owners like John Malone, Brad Kelley and Ted Turner.
The ranch was created by William and Desiree Moore, the late founders of the Kelly-Moore Paint Company. This is the first time it has ever changed hands. ”We are pleased that the Broken O will be in the hands of a new owner of Stan Kroenke’s caliber and commitment to agriculture,” stated the Moore family, following the sale.
(Excerpt) Read more at forbes.com ...
I still work in a major metropolitan area, but am 7 hours from my escape. Cities will be the worst, Sandy and Katrina have shown that.
I have a son who lives in the mid-west, but he is finally getting it, and doing some preparing.
Gunner
Where’s the tipping point in that equation?
Which equation the getting to old to fight or the trade off moving to town?
The age thing, it depends, I am early 50’s and can still shoot like I did years ago, but I don’t have the physical stamina, plenty of strength, but short lived. Also, my long distance vision in going so 1000m shots are getting harder. I also have seen a slight decrease in quick thinking, but that may be lack of interest in the daily things I have to think about at work. I figure in my case probably about 8-10 more years.
The town move, that is too abstract and can only be answer if the SHTF while I am still alive.
Ooops, I answered to the wrong post. That I cannot answer. Some are holding out but the taxes and population explosion is shutting them out.
WOW... Nevada beat Alaska?
I Love FR I learn something new every day
TT
Before long there won’t be any “out in the country” to move to. The more farms that are lost to sub-divsions the more costly food is to produce (even without the govt getting involved). The end game looks ugly.
Forty miles from any major city such as Austin, Dallas/Ft. Worth or Houston and at least twenty five from a 'minor' city such as Abilene, Amarillo or Lubbock.
Personally, I'm thinking of our next home being around Coleman, Texas - small town, big trees and a bit further West from tornado alley than we are now.
Re: Is land more expensive in Montana than Texas?
When I moved to Montana in 1971 the average cost of ranch land was 52 dollars an acre according to the Chamber of Commerce. Sigh but that was before the developers moved in.
I just checked my Lewis and Clark route map on Google Earth.
On the return trip they followed the river that runs through the southerly portion of this ranch.
Error in my prior post. It was only Lewis and his group that crossed this ranch. Clark went to the south and down the Yellowstone.
When I clicked on this, I half-thought it was going to be about a cathouse in Nevada.
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