Hedge-fund manager buys Forbes Ranch
According to The Wall Street Journal, a wealthy hedge-fund manager recently purchased The Forbes Ranch for the record price of $175 million dollars.
The transaction represents the single largest home purchase in the United States to date.
Mr. Louis Bacon, head of Moore Capital Management was the buyer of this corporate retreat which was purchased by the late Malcom Forbes in 1969. Forbes, who died in 1990 used the property to entertain guests and corporate clientle.
The property is located in Colorado in the small community of Fort Garland. It is the state’s largest privately deeded ranch. The ranch is officially known as Trinchera Ranch which occupies three, 14,000-foot high mountains with spectacular views.
News of the sale was reported locally by The Aspen Daily News.
In other news effecting the luxury segment, the home of Bander bin Sultan of Saudi Arabia just came off the market.
The property, located in Aspen was represented by Joshua Saslove of Saslove and Company. The Saudi Prince was formerly the Ambassador to the United States for the Saudi government.