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El Paso oilman purchases Davis Mountains ranchEl Paso oilman purchases Davis Mountains ranchhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219302019-02-12T06:00:00Z2019-02-12T15:00:00Z

​​​REEVES, JEFF DAVIS COUNTIES – ​Paul Foster, the CEO of El Paso-based Franklin Mountain Capital, has purchased the 37,000-acre KC7 Ranch for $32.5 million.

The iconic ranch is near I-10 in the Davis Mountains. The spread, which dates from the 1890s, includes a nearly 10,000-sf lodge, a rock barn, corrals, and a second house.

Dallas-based Icon Global Group marketed the property for sale. The deal was completed in just 120 days.

Foster bought the ranch with cash out of bankruptcy from Fort Worth oilman Thomas Darden. Creditors ​​in the bankruptcy include Hitachi Infrastructure Systems (America) LLC and Hitachi America Ltd. of Japan. 

KC7 Ranch photo from Icon Global Group

Dallas Morning News
NonMSA Texas
Land
https://www.dallasnews.com/business/real-estate/2019/02/11/el-paso-billionaire-completes-325-million-west-texas-ranch-buyRead more at {Source}

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