I was sitting in Craig Martin’s office up at Windsong Ranch — if you haven’t seen or experienced the amazing Windsong Ranch in Prosper, then you don’t know North Texas real estate greatness — and he was telling me about this amazing ranch in the Hill Country just north of Fredericksburg.
Boot Ranch I asked? I love the place!
Yes, he said. We are buying it!
But I was sworn to secrecy until the deal was closed. Closed, signed and sealed it is: Terra Verder Group LLC, the devloper of Windsong Ranch, has indeed purchased the 2,000 acre Boot Ranch north of Fredericksburg. Terra Verde and financial partner Wheelock Street Capital bought the luxury vacation home golf course community from Lehman Brothers.
Boot Ranch, the brainchild of Texas golfing great Hal Sutton, opened in 2006 just in time for the Great Recession. Like so many of its brethren, Boot fell into foreclosure. But during the four years that Lehman Brothers operated it, the community slowly, steadily kept the momentum moving forward. In fact, Boot Ranch may well become a poster child success story for how a vacation home community survives a downturn.
“The previous developer opened the project at the wrong time in the market,” said Terra Verde founder Craig Martin. “Our plan is to complete the development.We like Boot Ranch because of its proximity to Dallas-Fort Worth, Houston, San Antonio, Austin and Midland-Odessa – within a 4-hour drive.”
Read more about this amazing acquisition on CandysDirt.com!