Saturday, July 2, 2016

Alice Walton cuts price on Texas ranches by $10 million

Posted By on Sat, Jul 2, 2016 at 5:23 PM


Talk about a markdown. Walmart heiress Alice Walton, who's put a couple of Texas ranches on the market so she can devote more time to art, has cut the prices on the two by a cumulative $10 million, the Fort Worth Star-Telegram has reported.

She was asking $19.75 million for the Rocking W Ranch, but will now take $16.5 million, and will take $22.1 million for the Fortune Bend Ranch, for which she'd asked $28.7 million.

The properties went on the market last September. The decline in oil prices has reportedly discouraged some of the usual suspects for purchases of marquee Texas real estate, but the broker thinks a recent rebound, along with the price cuts, will spur interest.



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