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Historic Family-Owned Louisiana Plantation Sold for $51Mln

Debra Ferguson
By Debra L Ferguson, AgFax Staff May 8, 2017

Historic Family-Owned Louisiana Plantation Sold for $51Mln

Aerial view of Hollybrook Plantation. Photo: White Land Company

Historic Hollybrook Plantation has been in the same family for 4 generations. But that history came to an end last week (May 5) when the Louisiana 10,464 acre farm sold for a total of  $51,480,000 — $3.52 million short of the $55 million asking price.  

Located in East Carroll Parish near Lake Providence, Louisiana, the farm was marketed as 3 tracts, not including the Hollybrook headquarters. According to the White Land Company real estate listing, the plantation included: nearly 8,500 crop acres with 60 irrigation wells, relifts and submersible pumps, over 65,000 feet of underground irrigation pipeline, plus 5 center pivot irrigation systems. The farm has base acreage for wheat, soybeans, corn and rice, and has also produced high yielding cotton. 

Details of the Sale

The north tract, 5,331 acres, was sold to Hollybrook Plantation LLC, a corporation formed by Jackson, Tennessee, brothers who own plumbing manufacturing companies across the U.S. The tract is located just across the Arkansas-Louisiana state line in Louisiana’s East Carroll Parish. A large majority of the farm is west of Highway 65, with 3 miles of U.S. Highway 65 frontage on the north tract of the farm. The purchase price was $31,000,000.  

The south tract, approximately 4,460 acres, which also lies along U.S. Highway 65, 1.5 miles south of Lake Providence, was sold to the Purple Alpha II, LLC located in San Francisco, California. The purchase price for the south tract was $19,180,000.

The remaining tract of approximately 516 acres was divided into 5 shares of undivided interest among 5 individual buyers. This particular parcel is considered a recreation tract offering whitetail deer hunting, fishing, waterfowl hunting and small game hunting. The land lies within the flood plain of the Mississippi River and is ideal for recreational use.  The purchase price for that acreage was $1,300,000.

White Land Company of Wynne, Arkansas, the Myron Hall Land Company of Hot Springs Village, Arkansas and the Wilkes Appraisal and Brokerage Company were the land brokers handling the sale.

Related Article – Farmland: Louisiana Plantation Up for Sale at $55M

 

Debra Ferguson
By Debra L Ferguson, AgFax Staff May 8, 2017