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As large landowners continue to consolidate and hold vast acreage across the American West and High Plains states, opportunities to acquire land at scale have become increasingly rare. And, when properties of meaningful size do surface, they tend to reflect decades—if not generations—of careful assembly rather than speculative acquisition.
The Freeman Family Ranches are a clear example of that pattern. Spanning nearly 88,000 acres across and , there are three non-contiguous ranches—Anchor D, Coldwater, and Frisco—each contributing distinct functions to the overall operation. The portfolio was built over a long period of time and operated as a single, integrated unit.
“The size of the offering, the diversity of the ranches, and their overall quality” set it apart, said Chad Dugger of Hall and Hall, who is co-listing the portfolio with Sam Middleton at $127.7 million.
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The Freeman Family Ranches span nearly 88,000 acres across Texas and Oklahoma.
Hall and Hall
The land itself is a mix of open grassland and productive farmland. More than 1,200 acres are already under irrigation, with the potential to expand—particularly at Coldwater . In this part of the country, water access is important, and the property benefits from reliable sources in the Beaver River and Coldwater Creek.
Frisco Ranch adds another dimension to the portfolio’s economics. A permitted feedyard with capacity for roughly 9,000 head of cattle anchors its operations, while additional income streams come from wind energy and even a bitcoin mining lease—an example of how modern landowners are diversifying revenue beyond agriculture.
According to Dugger, the property is expected to draw interest from a broad range of buyers, from established ranch operators to capital-focused investors. “Large-scale landowners looking to expand operations and high-net-worth individuals who are seeking an attractive land investment,” he said, noting that it stands among the largest listings currently available across Texas and Oklahoma.
The portfolio includes irrigated cropland, native grassland, and a feedyard capable of handling about 9,000 head of cattle.
Hall and Hall
He also pointed to the long-term value of a property like this. “It’s an excellent land investment given its size, diversity, proven income streams, upside potential for irrigated farmland development, and steady land value appreciation,” Dugger said. “To assemble a land holding of this size in the area would take a considerable amount of time and expense.”
The sale comes down to ownership structure rather than market timing. “The reason the ranches are being sold is due to the partnership agreement with which the ranch ownership is governed has expired,” Dugger said. “One of the provisions of that agreement was that the ranches would be sold.”
While it doesn’t reach the multi-million-acre scale associated with the holdings of major landowners like Stan Kroenke or John Malone, the Freeman Family Ranches still represent the kind of footprint that is increasingly difficult to replicate in today’s market.
Abby Montanez
Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, entertainment, dining, travel to…
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