PROPOSED CONSERVATION INTERESTS INCLUDE REINTRODUCTION OF HISTORIC BUFFALO HERD TO SOUTHERN PLAINS SITE OF FAMED 1864 & 1874 BATTLES OF ADOBE WALLS.
LEGACY OWNERS OPEN TO OUTRIGHT SALE AS WELL AS RETAINED PARTIAL OWNERSHIP.
DALLAS, Jan. 18, 2024 /PRNewswire/ — “We are today announcing the second phase of our global marketing campaign of the historic Turkey Track Ranch, with a list price of $180 million dollars. This includes a 25% ownership stake within a near- 100% mineral ownership holding,” stated Bernard Uechtritz of Icon Global.
The basis of the offering price comes from updated independent valuation analyses recently completed by two nationally renowned appraisal firms, providing a data-driven range of fair market value, with and without mineral ownership. Farm lending specialist, Capital Farm Credit, is positioned to underwrite buyer financing.
In addition to the appraisal process, owners have engaged with third parties evaluating additional factors and opportunities of the Ranch. These range from various conservation proposals—from carbon sequestration and new energy initiatives such as wind and solar, to water initiatives. Additionally, there is potential for further development of oil and gas via new technologies. A significant portion of the property remains unexplored relative to hydrocarbon prospects.
Jonathan Grammer of U.S. Carbon Capture said, “Our team has spent two years analyzing the subsurface geology of the Turkey Track Ranch and believes the potential for long-term carbon sequestration and its lucrative revenue stream is one of the best in the Texas Panhandle. Its proximity to carbon dioxide emitters combined with the unique storage zones of the Anadarko Basin, which lay beneath it, make this 80,000-acre jewel a strong candidate. In addition, because of our work, we believe shallower undeveloped zones may exist as well for future oil and gas development.”
“Our stakeholders are all generational beneficiaries,” says Kim McTee, a third- generation Coble family descendant and one of five managers of the ownership trust. “The collective decision to sell, naturally, contains mixed emotions,” McTee further acknowledges, “There are some, who in a perfect world, would hope to explore the option of a percentage of retained ownership. Others prefer to liquidate their interests in the sale, which is typical of large ranching families that have expanded over successive generations. Our process has been one of patience and respect for our foundational history together, with a sincere search for the appropriate steward. We were recently presented with an innovative concept incorporating a co-ownership model within our first round of offers, and we continue to explore this option. Expressions of interest continue and include conservation initiatives, even ideas for the reintroduction of buffalo to the plains area via the ranch are under evaluation. Concurrently, we are proceeding with the second phase of our marketing campaign, as we explore, invite and advance opportunity.”
Concept Elemental’s Jennifer Warren has studied and analyzed the property. From her natural capital lens and approach, she notes: “The natural assets of the ranch have been meticulously curated and improved across the decades, where modern practices and technology have been applied, even pioneered. Through conservation-oriented dams, riparian micro-sanctuaries, and systems which support native grasslands, wildlife, and soil health, the Turkey Track Ranch portrays the very essence of natural capital. The ranch’s generational stewards—notably including the strong leadership of women—have protected and served the interests of the land and those connected to it. The preservation of the resources of the Turkey Track Ranch, its natural capital, makes it an unimpeachable national treasure.”
Uechtritz conveys: “As we continue consideration for a legacy buyer, our campaign has also attracted institutional and conservation interest around various ESG initiatives.” Today, there is no shortage of firms like Morgan Stanley, BlackRock, Deloitte, and others who look to fulfill ESG mandates directly as well as via natural asset companies (NACs). This is an increasingly active and opportunistic market in the rapidly advancing environmental finance and investment space connected to the ranching asset class. Organization’s such as The Rockefeller Foundation, along with conduits such as the Intrinsic Exchange Group, have been advancing investment from both private and public sectors into such initiatives.
“That said, this sale offering is not a matter of if, or how, but when and to whom,” Uechtritz concludes.
About the TTR
“The Turkey Track Ranch is a stand-alone offering—one of the last great legacy ranch opportunities in Texas. It is rich in history and is a cache of natural capital. The ranch provides an array of opportunities in the development of its natural resources, as well as enhancements of its existing recreation, hunting, and cattle herd operations. There are tremendous potential hospitality and conservation initiatives tied to its incredible and unique position in history, while retaining the stewardship values from its tremendous brand and legacy factors.”
Icon Global designs and implements strategic, tactical marketing and sales campaigns for unique, high-end properties globally. Icon Global 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 America under one contiguous fence, in a world record sale that still stands today.
Target URL – TTR webpage (videos, photos, story, info):
TTR video links:
Turkey Track Ranch – Official Launch Feature Video