“When you look at the enormity and complexity of this project with the land, minerals, infrastructure, livestock and equipment involved, this deal is not for the faint of heart,” states Bernard Uechtritz, Briggs Freeman Sotheby’s International Realty
Bryan, Texas (PRWEB) August 07, 2015
As one of the most storied ranches in Texas heads toward the finality of sale and enters a new era of ownership, the question of where a prospective buyer might source funding for such a record breaking acquisition as the $725 million dollar icon is answered today in part at least as Capital Farm Credit announces their selection as lender within the sales team.
“We have been working with brokers Sam Middleton and Bernard Uechtritz for some months now in order to be in a position to completely underwrite and lend on this incredible ranch and historic opportunity,” states Capital Farm Credit CEO Ben Novosad. “We are now in a position to offer a qualified buyer, joint venture or entity non-contingent financing and a fast close when purchase and sale contracts are submitted.”
Sam Middleton owner of Chas. S Middleton and Sons of Lubbock said, “I have worked with Capital Farm Credit for many years in many successful transactions and I believe them to be one of the premier lenders in our agricultural industry. They are a great fit for this project with Bernie and me.”
“When you look at the enormity and complexity of this project with the land, minerals, infrastructure, livestock and equipment involved, this deal is not for the faint of heart,” stated Bernard Uechtritz, marketing broker for Briggs Freeman Sotheby’s International Realty. “Sam and I were approached by many would-be lenders and jointly interviewed several in this process.”
Uechtritz continued, “We chose Capital Farm Credit because not only were they very capable in that they had the expertise and capacity to deliver on this deal, but moreover, their team was willing to get down in the trenches with us for months now and roll up their sleeves to spend the time, money and effort to get the job done. That’s called commitment, and Capital Farm Credit was not afraid to make such a commitment! As a result, they will play a pivotal role in the success of this transaction as we enter the home stretch of our marketing and sales program.”
“Sam and Bernie are recognized as some of the best at what they do, and we’re proud to work with them as they market the Waggoner Ranch,” said Novosad. “The Waggoner is a big part of Texas’ rich cowboy history and tradition. Capital Farm Credit has supported and provided a reliable source of credit to Texas farmers and ranchers for the better part of a century. Blending Texas market expertise with cutting edge financial products is what we do, and we’re very comfortable doing it.”
“We also understand this is a rare opportunity,” added Novosad. “The Waggoner Ranch has been under the same family ownership since 1849. This is the first time it has been up for sale, and we’re excited to be a part of history in the making.”
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About Capital Farm Credit
Capital Farm Credit has provided financing to Texas farmers, ranchers, rural property owners and agribusinesses for nearly a century. Headquartered in Bryan, Tex., CFC has offices spanning most of Texas. For more information about its lending programs, financial services, office locations and patronage program, visit http://www.CapitalFarmCredit.com.
About the W.T. Waggoner Ranch
Founded by Dan Waggoner in 1849, his son, famed cattle baron W.T. Waggoner, continued expanding the ranch to the 510,000 acres that will soon be offered to the international marketplace. Owned exclusively by the Waggoner family, this is the first time the 800-square mile estate has ever been listed for sale. The W.T. Waggoner Ranch is the largest contiguous ranch in the United States. Nearly 800 square miles and about the size of Rhode Island, the ranch encompasses six North Texas counties, offering two main compounds, dozens of additional homes, 20 cowboy camps, enormous lakes, hundreds of award-winning quarter horses, thousands of heads of cattle, 1,200 oil wells, and 30,000 acres of cultivated farm land.
About Bernard Uechtritz & Sam Middleton
Bernard Uechtritz and Sam Middleton were selected by the families and shareholders of the W.T. Waggoner Ranch Estate by unanimous agreement and confirmed by the receiver and presiding judge in the decision to enter the open market internationally to sell the iconic ranch and its related assets. Sam Middleton is a third generation broker at Chas. S. Middleton & Son of Lubbock, Texas. Bernard Uechtritz is an International Real Estate Advisor for Briggs Freeman Sotheby’s International Realty in Dallas, Texas.
About Chas. S. Middleton and Son
Chas. S. Middleton and Son was established in 1920. The business consists of farm and ranch appraisals and farm and ranch sales. The firm sells ranches in Texas, New Mexico, Oklahoma, Kansas and Colorado. For more information, visit http://www.ChasSMiddleton.com
About Briggs Freeman Sotheby’s International Realty
Briggs Freeman Sotheby’s International Realty is the oldest privately held real estate boutique in Dallas. With six offices in Dallas, Lakewood, Uptown, Ranch and Land, The Ballpark and Southlake, and more than 250 associates, the firm specializes in significant properties, from historic to contemporary, ranch to waterfront. The company’s deep-rooted connections, cutting-edge marketing and global strategies bring the extraordinary to all clients. President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty. For more information, visit http://www.briggsfreeman.com.
For all media requests, information, official photography and any other public relations’ requests, please contact Will Beuck at waggonerranchsalepr(at)gmail(dot)com, 214-353-6600, or cell at 214-802-9506.