$34M Texas estate, ranch hitting auction block for liquidation

An 11,800-acre Texas ranch, which sits two hours from Dallas along Interstate 30, is hitting the auction block next month. Its purchase will be followed by the sale of 2,000-plus head of Red Angus cattle.

The Broseco Ranch, which is currently listed at more than $34.2 million, will be liquidated with the help of a sealed bid auction to be held on Nov. 15.

"We are offering the property both as a whole and in separate tracts," Bernard "Bernie," Uechtritz, who is marketing the property on behalf of Dallas-based Icon Global Group, said in a prepared statement.

Click here to see photos of the 11,800-acre ranch.

"The ranch has terrific subdivision and diversified use potential ranging from a commercial tract on Interstate 30, to serious ranching and grazing land, along with high fenced and other recreational tracts, making it a very valuable acquisition opportunity for any number of people," he added.

Icon Global Group plans on reviewing all offers submitted to Farmer, Fuqua & Huff Certified Public Accountants on or before the bid date.

This will be the first step in liquidating the entire 50-year-old ranch and estate. As soon as the real estate is auctioned off, Uechtritz said the remaining livestock will be sold in February, followed by operating equipment and personal property.

"We have experienced tremendous early interest in the offering and are now busy pre-qualifying clients, their interest, as well as setting up ranch tours and finalizing bid packages," he added.

The Broseco Ranch, which gets its name from the Brown family and the former Brown Securities Co., includes more than 2,000 head of award-winning Red Angus cattle. The sprawling ranch also includes two 100-acre managing bass fishing lakes, as well as a managed deer heard and lodging for hunting and fishing enthusiasts.

The ranch, which sits east of Mount Pleasant, could be divided into four separate parcels at the auction, which includes 50 acres of frontage along Interstate 30.

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