Aspen Valley Ranch, previously owned by Tellurian co-founder Charif Souki, has been sold in tranches after it hit the market for $220 million, The Wall Street Journal reported Thursday.
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Aspen Valley Ranch, previously owned by Tellurian co-founder and natural gas pioneer Charif Souki, has been sold in tranches after going public in 2020 for $220 million, walltree magazine reported Thursday.
A year after the luxury Colorado ranch went on the market, two homes on the 830-acre property have sold for $47 million. Souki ended up fighting a legal battle with the lender and lost control of the remaining property.
In January, the lender purchased the property for $30.5 million, bringing it out of bankruptcy, public records show. Five months later, Atlanta-based hedge fund Bay Point Advisors purchased the 300-acre ranch from Souki’s lenders, company officials said.
Bay Point intends to finance the construction of future residences on the property, said Charles Andros, Bay Point’s president and chief investment officer.
“We’ll eventually sell them,” Andros said.
Souki purchased the property in 2013 for $27 million. Sookie tells us he spent millions building homes and eventually built a “mini country club” on the ranch where he and his family live Wall Street Journal. Once construction is complete, he plans to sell the ranch.
Creditors foreclosed on Souki’s assets and sold them, including the ranch, after defaulting on more than $100 million in loans in 2020.
Aspen Valley Ranch, about 10 miles from Aspen, consists of 11 homes and other amenities, including equestrian facilities, a swimming pool and a converted historic barn used for recreational activities, according to Andros.
Bay Point has five residential sites and three homes, one of which it plans to put on the market — a $20 million, 5,750-square-foot home on 98 acres.
Jennifer Banner of Christie’s International Real Estate created the listing.
Email Richelle Hamill
