Franks Farm/Southland Division to Sell to Developer
Updated: Friday, September 24, 2004 11:56 AM
Posted: Friday, September 24, 2004 11:56 AM
Central Florida real-estate developer Glenn Lane of First American International has a contract to purchase Franks Farm/ Southland Division, owned by the estate of the late John Franks, who died Dec. 31.
Lane said he would like to sell the front side property, where the training track, stallion barn, and offices are located, as one 300-to-400 acre farm, with the back section of the farm (about 600 acres) offered in 10-acre lots.
"We would like to sell as one farm and we have had interest," Lane said. "But the easiest thing for us would be to sell the front section as one farm and divide the back section into smaller lots with riding trails."
The farm has been under contract with First American International, which is beginning preliminary engineering work, since August.
Will Johnson, Franks Farm/Southland Division said the number of horses at the 1,030-acre Ocala-area farm has decreased from about 800 to 60. The remaining 60 head will be offered during the Fasig-Tipton Kentucky November mixed sale and Keeneland November mixed sale. A consignment of yearlings will be consigned to the Fasig-Tipton Kentucky October yearling sale.
The Franks family began reducing its horse holdings in February and would continue to do so until it reaches a manageable number.
"This will pretty much cut down the stock," Johnson said. "We'll still have a few at the racetrack, and will probably close up shop here in February."
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