Global Thoroughbred Industry and Associated Markets Remain Robust
LEXINGTON, Ky., Nov. 3, 2022 /PRNewswire/ — Twelve months after publicly saying the property was for sale throughout the 2021 Fasig-Tipton Night of the Stars occasion, and 5 months after the June 2022 announcement of the $55M price ticket for the famed Kentucky thoroughbred breeding farm Adena Springs – the Icon Global Group, immediately affirm a “Call for Offers” is probably going coming quickly.
“We have made significant progress within our stated process. The interest, activity, and expressions of interest to date have been consistent since the June price announcement with an uptick in qualified activity. Correspondingly, it seems that the prices, numbers, and activities are up nationally for horse sales, while the thoroughbred racing industry globally continues to be energized. The sector in 2022 is enjoying an extremely robust market environment. It seems Winston Churchill was right when he said, “the skin of a horse is sweet for the within of a person,” because the racing and equestrian market seemingly disregard and defy the drumbeat of assorted financial forecasts and geo-political occasions – as a substitute, turning inward for the continued calm of horse possession.
“2022 results of Fasig-Tipton, Keeneland, Tattersalls, etc. via sales venues and events everywhere are up, and seemingly, records have been set across the board,” mentioned Icon Global CEO, Bernard Uechtritz.
“Accordingly, there is movement in the associated real estate markets. Frankly, as with our core high-end business of big ranches and other special assets, trading in similar projects within price levels such as Adena Springs remains strong. For example, locally, the recent announcement and simultaneous pending sale of Woodford County’s Pin Oak Farm by the Justice realty firm in Lexington in addition to different important itemizing momentum inside personal, off-market actions in numerous racing pockets domestically, nationally, and globally are according to the Adena Springs worth proposition. There is all the time good cash for nice actual property anyplace – in any market, no matter the place typical indicators and speaking heads might level.
“Representatives together with local and international brokers, farm management, and others will be on-site and in Lexington, KY all this week throughout the Breeders Cup in addition to the following Fasig-Tipton and Keeneland gross sales venues occasions to observe.
“As we continue to navigate and discern existing expressions of interest in the property, we will potentially make an official tender date decision known sometime after the fall breeder’s cup and sales events,” he mentioned.
“There has been a line out the door since day one for those that wish to personal, lease, or function elements of the farm, and there have been some attention-grabbing propositions inside and out of doors of racing to guage. Some of those present nice income choices for new possession – nonetheless, at this stage, we’re centered on single purchaser prospects within the type of potential next-new trade blood or current stewards inside racing and equestrianism for the sale of the property in a single transaction.
“The farm naturally divides in half or even other large parts for various types of operations and other development; however, unless really pressed on this within the offers process, we plan to leave those options, decisions, and add value opportunities for a new owner.”
Adena Springs Farm – internet web page
Adena Springs Farm – Feature video 3:32 (credit score Icon Global)
Adena Springs Farm – 60 sec model (credit score Icon Global)
Adena Springs Farm – 30 sec model (credit score Icon Global)
Adena Springs Farm – images (credit score Icon Global)
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