“Every horse that was Bluegrass Hall now [races as] Calumet Farm,” said D. Wayne Lukas, the primary trainer for Kelley.
The list includes Oxbow, a leading Kentucky Derby candidate set to run later this month in the Grade 2, $400,000 Risen Star at Fair Grounds. The name change also extends to Kelley’s breeding operation, as the horses produced will show the breeder as Calumet Farm.
Kelley will continue to race in the black and gold colors of Bluegrass Hall. Calumet’s red and blue silks were purchased at auction in 1992 for $12,000 by a Brazilian businessman. They are carried by TNT Stud’s runners in South America.
Lukas coincidentally trained the last champion for Calumet Farm, 1990 Horse of the Year - Criminal Type.
Sold - the aforementioned Clark property of Woodbox in Middleburg, VA on Valentines Day. I incorrectly said the farm was built for the late Mrs. Stephen C. Clark Jr. (Kats), rather she acquired it and had it renovated and expanded. The property was originally built for M/M Charles M. Greer in 1958.
The owner of Payson Park, a 405-acre equestrian training center in Indiantown, Fla., where Queen Elizabeth II and Kentucky Derby winners have trained their horses, has lowered the property’s price by 25% to $8.95 million.
The property was originally listed at $12 million in May 2012. It includes a one-mile dirt track, an irrigated turf track, nearly 500 stalls, 21 barns, 76 paddocks, an electronic six-horse starting gate and European-style galloping trails.
The park originally was built in the early 1950s by horseracing pioneers including Michael Phipps and Bull Hancock.
Ms. Payson, who also owns properties in Lexington, Ky., and Big Sky, Mont., says none of her four children is interested in the park. Brad Scherer, the listing agent at Atlantic Western Realty Corp., says the park generates approximately $350,000 a year.
Virginia Kraft Payson acquired the park in 1980 with her late husband Charles. The last year she had horses running (under her name alone) was 2010 with six starts. Borchure here (pdf)
Glimmer, I just returned from a trip back to Warrenton and a little birdy said North Wales sold. Any truth there?
No inside info here. The term for the listing agent, based out of Charlottesville, ended so its not currently being represented for sale. Easily a deal could be negotiated behind the scenes but even if the buyer is a private trust and/or LLC it has to become public record of transfer. It will be one of the highest sales in Fauquier Co. when/if it occurs.
Prices do continue to drop for a lot of trophy farms in that area. The lovely former Sandra Whitney Payson estate (which served as a relocated Manhasset Stable) over in Delaplane - known as Ashleigh (although Ms. Payson intentionally spelled it Ashley) has been on and off the market for the last few years.
Sold in 2005 for $3,495,000 its been relisted this week for $2,900,000 - ouch. Hard to weep over that potential loss as its owned by an ex of an ethically challenged Congressman who was married to him during a few of his sweetheart deals.
Was being marketed (without success) for as much as $14.9M and most recently $10M. It will be auctioned without reserve. In 2006 it was last sold for $6,700,000. The Miami, FL based owner stated this is the best way to move the estate.
Middleburg, VA located Mortgage Hall Farm (held by Middleburg Bank in foreclosure) which is adjacent to the Middleburg Training Track is now under contract for sale. Sold in March 2007 for $5,250,000 it will most likely close somewhere in the vicinity of just $2.5 million. The bank will take over a $1 million loss on the property.
I'm still amazed at the significantly below asking price many of these properties in the M'burg area finally close at.
Tax assessment being $4,014,000, last sold for the $5.9M cited above; and the bank (after foreclosure) some $3,750,000 secured by it. After paying for property taxes, insurance, a cut of the sale back to the real estate agent that was a hefty loss.
Yesterday (4/23) at 5pm EST was the cut-off for bid registration (accompanied by a $250k certified check) on this non-reserve auction (FRI) of Horsefields Farm. Per the notice from Concierge - Attendance is limited to registered bidders and their representatives. With an additional hefty 10% auction fee paid by the buyer I'll take a guess here at the a final bid being $4.3M pre-fee
As we reported last month, some real estate observers thought a plan by Miami home builder Sergio Pino to auction his 140-acre Horsefields Farm in Upperville without reserve or a minimum bid was just too risky.
It would have allowed the highest bidder, no matter how low the offer, to walk away with the property for which he paid $6.7 million in 2006 and was seeking $14.9 million.
Well, Pino decided to hedge his bets. By last week’s auction, he had changed his mind, opting for a minimum reserve of $5 million.
Seven bidders competed for Horsefields, but the highest offer was $4.2 million.
That rejected $4.2M bid ($100k off my suggestion of the highest offer they'd get) is reflective of the market. Even getting $5M would be impressive.