M2| Friday, March 13, 2020 THE WALL STREET JOURNAL.
PRIVATE PROPERTIES
One of America’s biggest landown-
ers is selling off an enormous swath
of his portfolio: more than half a mil-
lion acres for roughly $500 million.
In January, tobacco billionaire Brad
Kelley listed a series of West Texas
ranches with roughly 500,000 acres
for $404 million. Now he is listing a
New Mexico ranch with more than
50,000 contiguous deeded acres for
an additional $96 million.
A Kentucky native, Mr. Kelley has
spent hundreds of millions
of dollars becoming the
eighth-largest landowner in
the U.S. in 2019, alongside
the likes of Liberty Media
Chairman John Malone and
media mogul Ted Turner, ac-
cording to the Land Report
100, a ranking of the coun-
try’s largest land owners.
Eric O’Keefe of the Land Report esti-
mated that Mr. Kelley’s total holdings
span about 1.14 million acres. “His
track record of buying low and selling
high is matchless among the country’s
leading landowners,” he said. Mr. Kel-
ley could not be reached for com-
ment.
In New Mexico, Mr. Kelley is listing
Dawson Elk Valley Ranch. In the
northeast part of the state, it neigh-
bors Vermejo Park Ranch, owned by
Mr. Turner, according to listing agentJeff Buerger of Hall and Hall. The Ver-
mejo River dissects the ranch from
north to south, said Mr. Buerger.
The area is well-known as an elk
habitat, making the ranch a prime
hunting destination, Mr. Buerger said.
There are also mule deer, black bear,
coyote, mountain lions and Merriam
turkeys on the property.
The ranch does not include any ma-
jor improvements, like a luxury lodge,
so a buyer could build from scratch,
according to the agent. Mr.
Kelley doesn’t typically de-
velop the land he buys, he
told The Wall Street Journal
in 2012. Rather, he often
opts to let local cattle ranch-
ers use his land for a fee.
The property includes ru-
ins and a railroad from the
turn-of-the-20th-century
mining town of Dawson, N.M. The
mining operations shut down around
1950, and the town was mostly razed.
The listings in Texas include seven
different ranches, said James King of
King Land & Water, the listing agent.
Five have been parceled together as
the “Brewster Ranches,” asking $320
million. Together, they total about
half the size of the state of Rhode Is-
land, or about 420,000 contiguous
acres. The properties have wildlife
hunting opportunities for desert mule
deer, elk, bighorn sheep and quail.
Another nearby ranch, Cathedral
Mountain is asking $24 million and
spans about 10,000 acres. In Culber-
son and Hudspeth counties, the Eagle
Mountain/Carrizo Mountain ranches
are asking about $60 million. To-
gether, they span about 76,000 acres,
according to the listings.
According to the Journal, Mr. Kel-
ley made his money in the discount
cigarette business, and sold his com-
pany Commonwealth Brands to
Houchens Industries for about $1 bil-
lion in 2001. He also owns the travel
guide publisher Lonely Planet through
his company NC2 Media. Deeply pri-
vate, Mr. Kelley makes his own bour-
bon and drives a Ford pickup, the pro-
file said.
—Katherine ClarkeBillionaire Lists 500,000 Acres
FOR SALE$500
MILLION
Eight ranches,
prime hunting
destinationsDoveMountainRanch,WestTexasDawsonElkValleyRanch,NewMexicoEagleMountain/CarrizoMountain,WestTexas KING LAND & WATER (2); HALL AND HALL (NEW MEXICO)LUXURY GOLF COURSE ESTATE
IN PRESTIGIOUS GREY OAKS2716 Buckthorn Way, Naples, FLThis property is listed for sale by licensed real estate agent and broker Kimberly Alvord (LIC # 3331520) of Compass Real Estate(LIC # BL1049215), PH: 239.919.2742. Elite Auctions is a marketing service provider for auctions and is not a licensed real estate
broker. The auction services referred to herein are not available to residents of any state where prohibited by applicable statelaw. Elite Auctions, its agents and affiliates, broker partners, auctioneer, and sellers do not warrant or guarantee the accuracy or
completeness of any information and shall have no liability for errors or omissions or inaccuracies under any circumstances in thisor any other property listings or advertising, promotional or publicity statements and materials. This is not meant as a solicitation
for listings. Brokers are protected and encouraged to participate. All bidders are required to pre-register for each property auctionin accordance with the Terms and Conditions. Equal Housing Opportunity. James Gall, Jr., is a licensed FL auctioneer #AU-2. Elite
Auctions is a licensed Florida auction business #AB3687.OPEN FOR PREVIEWS
SATURDAYS & SUNDAYS
14 PMAUCTION WITHOUT RESERVE
SATURDAY, MARCH 28 | 11 AM844.94.ELITE
EliteAuctions.comThesepropertiesarelistedforsalebyMichaelGembecki(10401227340)ofCushman&WakefieldRealtyOfManhattanLLC(39CU0903167)–1290AvenueoftheAmericas,EighthFloor,NewYork,NY10104,(212)389-6737;LyndonPhillipsofPrimeRealEstatePhuket–49/37BoatAvenueEntrancetoLagunaCherngtalay,ThalangDistrict,Phuket83110,Thailand,+6687893
5052;andConciergeAuctions,LLCisamarketingserviceproviderforauctionsandisalicensedNewYorkbroker(#10991209483;BrokerChadRoffers,#10491202564),possessesCaliforniaAuctioneer’sBond#62662376,andisnotalicensedRealEstatebrokerinThailand—800BrazosStreet,Suite220,Austin,TX78701;+1(212)202-2940.LicensedAuctioneerFrankTrunzo(CABond#511522).Allmeasurements,propertycorners,etc.tobeverifiedbybuyertobuyer’sfullsatisfaction.Theservicesreferredtohereinarenotavailabletoresidentsofanystatewhereprohibitedbyapplicablestatelaw.ConciergeAuctions,LLC,itsagentsandaffiliates,brokerpartners,auctioneer,andsellersdonotwarrantorguaranteetheaccuracyorcompletenessofanyin-
formationandshallhavenoliabilityforerrorsoromissionsorinaccuraciesunderanycircumstancesinthisoranyotherpropertylistingsoradvertising,promotionalorpublicitystatementsandmaterials.Thisisnotmeantasasolicitationforlistings.Brokersareprotectedandencouragedtoparticipate.EqualHousingOpportunity.SeeAuctionTermsandConditionsforfulldetails.ConciergeAuctions.com | +1 917.779.0490Featured Properties:BEVERLY HILLS, CALIFORNIA
PHUKET, THAILAND
THE HAMPTONS, NEW YORKAdditional Offerings: FLORIDA
LUXURY LIVING
The world’s finest properties on sale now,
including a global showcase selling this month—most No Reserve.