Court Approves Sale of West Texas Ranch at $1,007 Per Acre

Judge Mark Mullin of the US Bankruptcy Court for the Northern District of Texas approved the sale of the KC7 Ranch to Paul Foster of El Paso for $32.5 million. The 37,847-acre property, which sits 190 miles east of El Paso, includes 5,579 leased acres and 32,268 deeded acres. The KC7 Ranch was previously listed for $52 million with James Sammons on Briggs Freeman Sotheby’s International Real Estate. “It’s a good ranch, he likes it, and it was a good price,” said William Kell in an interview with the El Paso Times. Kell is a vice president at Franklin Mountain Management, a company that manages many of Foster’s real estate holdings. Read more HERE.