Central Texas Ranch Listed at $250 Million
August 16, 2016 - Texas
New York-based metals manufacturer Alcoa Inc. has put its Texas land holdings on the market for $250 million, which include a vast array of water rights that could be the biggest known water rights deal struck of its kind in the Lone Star state.
The property — known as Sandow Lakes Ranch — totals nearly 33,800 acres of land that sits about 45 miles east of downtown Austin and, if sold, could be the biggest of its kind in Texas, said Bernard "Bernie" Uechtritz, who is the Dallas broker behind the sale of the famed $725 million Waggoner Ranch.
"This is the largest water deal of its kind," he told the Dallas Business Journal." It has an incredible amount of holding capacity and that holding capacity could be increased."
Uechtritz is marketing Sandow Lakes Ranch — which stretches 30 miles long across three Texas counties — on behalf of the seller, Alcoa, through his newly formed company, Dallas-based International Icon Properties.
The ranch includes 14 lakes covering 1,960 surface acres totaling 48,379 acre feet of water. Each year, the ranch is permitted 44,000 acre feet of water through the Simsboro Aquifer with an additional 14,000 acre feet available for permitting.
There's also an additional 18,000 acre feet of surface water diversion from the Little River that runs through the property. By selling the ranch, Alcoa would transfer 100 percent of its water rights.
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