One of the largest cattle ranch properties in the United States has been sold for nearly its full asking price after spending less than a month on the market.The Freeman Family Ranches, an 87,953-acre property spread across the North Texas and Oklahoma panhandles, was sold for $127.7 million, according to Realtor.com, which first reported the transaction. The deal was completed within a month of the ranch being listed for sale.Roughly six times the size of Manhattan, the property had been owned by the Freeman family for four generations. The family’s first land deed dates back to 1929, with the rest of the estate gradually assembled over the decades, New York Post reported. The estate comprises three separate ranches which were managed as a single integrated operation. Brokers described the property as a rare turnkey ranching business capable of generating income immediately without requiring further development.The sale did not include livestock. However, the ranch has historically operated as a yearling cattle business capable of supporting around 8,500 young cattle at a time.In a separate statement to the New York Post, Chad Dugger, a listing broker described the property as ‘a rare offering’ comprising three well-managed ranches operating as one unit, adding that opportunities to purchase estates of this scale are uncommon.Dugger said the purchaser is among the top 100 private landowners in the United States, has longstanding ties to the livestock industry and intends to continue using the land for cattle ranching while expanding existing land holdings.According to Dugger, the Freeman family was pleased that the property would remain with another Texas ranching family rather than being divided into smaller parcels.“It’s always nice when a seller is attached to a place as long as this family has to find somebody who will treat it and use it the way they’ve always treated and used it,” he said, adding that the new owner would continue the ranch’s legacy.Dugger said the rapid sale reflected the growing scarcity of large ranches in Texas. He noted that many sizeable properties in the region are purchased and subdivided, making estates of this scale increasingly rare.Having spent 25 years in land brokerage, Dugger described the transaction as one of the largest ranch sales of his career.
