A $105M Colorado ranch just sold to a “true conservationist”

Turns out, having a home on the range ain’t cheap. A Colorado ranch that was last listed for $105 million just sold to an undisclosed buyer.

The deal has yet to hit city records, so we aren’t yet sure of the purchase price. But no doubt it was substantial. The property — called the Cielo Vista Ranch — comes with 83,000 acres, which includes the Culebra Peak and more than 20 miles of Sangre de Cristo ridgeline.

According to the property’s broker, Jeff Hubbard, the buyer is a “true conservationist” who is “deeply committed to preserving this national treasure and extraordinary resource.” One-third of the property is under a conservation easement, meaning it cannot be developed, which is a condition the new owner is reportedly happy to follow.

The ranch has a bit of a complicated history, as its former owner — Enron exec Lou Pai — was involved in a 30-year lawsuit over who owned its hunting and grazing rights. A court eventually ruled to allow Costilla County landowners to use the land.

Pai later sold it to a group of Texas ranchers, who were the sellers. [Denver Post]