A ranching family bought 1,400 acres of farm land west of Fort Worth, including a luxury estate.
Two neighboring farms in Palo Pinto County are now consolidated under the Hat 6 brand, a ranching operation run by the Greeman family based near Tishomingo, Oklahoma. The complex purchase was finalized last month, property records and listing websites show. The final sale price is unavailable, but the properties were listed for about $28.5 million altogether.
The smaller of the two tracts, the Firewater Ranch, is a 524-acre property that produces hay and includes a 14-acre lake stocked with bass and bluegill, according to the listing. Icon Global listed the property for $8.5 million, about $16,000 per acre. The seller is Dallas investor Dean MacFarlan, records show.
The larger tract, dubbed the K6, accounts for the lion’s share of the price. Hall and Hall broker Brett Grier listed the property for just under $20 million, amounting to almost $23,000 per acre. The seller, real estate developer Chad Krippner, spent the last three years adding equestrian facilities, a pickleball court and a 5,200-square-foot timber frame home to the property. The home includes a pool, a gym and an outdoor kitchen, according to the listing.
“Most ranches like that, when they have that much improvements on them, they don’t come up for sale for 10 or 15 years,” Grier said.
The K6 farm also produces between 400 and 500 bales of coastal Bermuda hay yearly, he added.
The land is north of Mineral Walls and just east of Highway 281. Mineral Wells is about an hour west of Fort Worth.
Walt and Joc Greeman acquired the land through a 1031 exchange facilitated by PSI Exchange Holdings, a Midland, Texas-based company, public records show. Krippner and MacFarlan sold their tracts to PSI Exchange Holdings in July and October, respectively, before PSI conveyed the land to the Greemans’ company. PSI specializes in 1031 exchanges.
Their Oklahoma farm is now for sale. Icon Global is marketing the 1,567-acre property near Tishomingo for $9.4 million.
Fort Worth is a prominent hub for rodeo and horse sports, boosting value for land fitted with equestrian facilities. An 860-acre horse ranch near Weatherford, about halfway between Mineral Springs and Fort Worth, recently sold after asking $43 million.
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