A central Texas ranch with more than 5,000 acres is for sale, and the deal includes more than just the typical farmland.
The Champion Ranch southeast of Waco in Centerville is the home of storied Texas entrepreneur Richard "Dick" Wallrath, whose life was chronicled in the 2012 movie Deep in the Heart.
He has been a major benefactor to youth groups including the 4-H Club and FFA. Proceeds from the sale of the Champion Ranch will go to those organizations.
"This is an incredible opportunity for a select buyer as well as the associated 4-H and FFA charities," said real estate broker Bernard Uechtritz, who is marketing the property. "This is more than a simple ranch sale for the highest bidder. I am charged with looking for a specific, creative and right buyer; a land steward who understands how we can create a transaction that meets everyone's goals and maximizes benefits to the buyer, seller trusts and beneficiary charities alike."
Located between Dallas and Houston, Champion Ranch has a house on a private 178-acre lake, several barns, eight guest and ranch houses and a 16-person bunkhouse. The property has 36 oil and gas wells, and the mineral ownership rights are included in the sale.
"It's producing a good amount of money now and there is unleased acreage," Uechtritz said.
The ranch comes with 1,000 head of cattle. And the family is throwing in the rights to the Deep in the Heart movie and a sequel film in development.
Wallrath, who will be 88 this year, made millions with his Houston window business, Champion Windows.
He bought the ranch in the 1990s.
The property is expected to fetch more than $70 million.
When Wallrath sold his window company, a big chunk of the proceeds went to the Houston Livestock Show and FFA and 4-H charities.
His foundation has provided close to 600 scholarships since 2006.
In 2012, Wallrath successfully sued his heirs for control of his estate and disinherited them.
From Dallas Morning News | Steve Brown
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