Texas personality and philanthropist Richard “Dick” Wallrath has put his beloved and legendary Champion Ranch of Centerville, Texas, on the international market with Bernard Uechtritz’s Icon Global Group.
The multi-faceted deal includes 100 percent of all oil and gas well rights — including existing and future royalty income streams, approximately 1,000 head of purebred cattle, and more. Additionally, the deal includes movie rights to “Deep in the Heart,” an independent movie, with a sequel in development. The 2011 Austin Film Festival’s “Top 5 Must-See Films” is based on the true-life story of Richard Wallrath and his tale of fortune, fame, tragedy, and triumph in Texas.
Richard Wallrath, who will turn 88 this year, made his fortune pioneering a small Houston window business called “Champion Windows” into a national name brand and over time put his dreams, soul, sweat and fortune into his beloved “Champion”- the ranch.
Wallrath sold Champion Windows for $66 million and previously donated $22 million of the proceeds to helping young people. Of that, $7 million went to the Houston Livestock Show and $3 million to FFA and 4-H charities. With the remaining $12 million, Wallrath established the Richard Wallrath Educational Foundation. His foundation has provided more than $6 million in some 600 Scholarship since 2006. To date, Richard Wallrath, a self-professed recovered alcoholic, is the all-time largest individual donor in the history of the Texas 4-H Youth Development Program.
Unfortunately, in 2012, Wallrath nearly lost the ranch when his sons and daughter claimed to own and takeover the ranch through a document purportedly signed while their ailing father lay near death in a Houston hospital. A recovering Wallrath sued and regained complete ownership and control of the ranch in a final and uncontested court ruling.
Subsequently he disinherited his children and heirs, recently instructing Icon Global Group founder Uechtritz to facilitate a creative transaction that would provide significant term inducements and incentives, providing that the majority of the sale proceeds are to be directed towards the 4-H and FFA charities in trust.
Located halfway between Dallas and Houston, Champion Ranch boasts over 5,000 acres of prime ranchland.
Atop oak tree studded sandy loam hills, the property includes an idyllic owner’s home on a private 78-acre lake. In addition, the ranch has numerous barns, eight guest and ranch houses, and a 16-person “bunkhouse.”
Amongst over 20 additional lakes, stock ponds, and live river streams, Champion Ranch is also home to a sprawling peach orchid that currently produces a variety of peaches.
Dinner and dancing are conducted in the 2,200 sq. ft. on-property Saloon. With two bars, a piano and sound system, the Saloon seats up to 130 guests for corporate or private events.
There are 36 oil and gas wells situated on the property. The underground mineral ownership rights, included in the deal, currently produce significant income as well as prospective future fortunes.
Livestock include herds of purebred Brangus breeder cattle and award-winning horses. Ranch equipment and more are offered in the “turn-key” sale.
“Deep in the Heart,” a motion picture movie starring Jon Gries, Val Kilmer, Elaine Hendrix, DB Sweeney, Rheagan Wallace, and James Haven is the inspirational and true story of Richard Wallrath. There is even a sequel in pre-production. All movie rights and future royalties are also offered as a part of the sale.
“This is an incredible opportunity for a select buyer as well as the associated 4-H & FFA charities – who will all benefit from a lifetime of Dick and Patsy’s vision and work,” said Uechtritz. “This is more than a simple ranch sale for the highest bidder, I am charged with looking for a specific, creative, and right buyer; a land steward who understands how we can create a transaction that meets everyone’s goals and maximizes benefits to the buyer, seller trusts and beneficiary charities alike.”
Price information is currently undisclosed, but available on pre-qualified request.
Tags: Real Estate, Philanthropy, Ranch News
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