88,000-Acre Texas-Oklahoma Ranch Sells for $128 Million

The historic Freeman Ranches, a vast property encompassing 88,000 acres across Texas and Oklahoma, has been sold for approximately $127.5 million. This significant transaction marks one of the largest land offerings in the Panhandle region in recent years. The Freeman family had owned the land for four generations, with the earliest deed dating back to 1929. The combined property includes three distinct ranches: Anchor D. Ranch, Coldwater Ranch, and Frisco Ranch.

The buyer is described by listing agent Chad Dugger of Hall and Hall as a "top 100 national landowner" and a prominent figure in the livestock business, intending to continue ranching operations and expand their existing land holdings. Dugger emphasized that the buyer is a "rancher" who will "continue the legacy" of the Freeman family's stewardship of the land. The Freeman family expressed satisfaction that the new owner will treat and use the property as they always have.

Dugger, who co-listed the property with Sam Middleton of Chas S. Middleton and Son, noted that the sale closed within a month of hitting the market, indicating strong interest from potential buyers. He highlighted the increasing rarity of large ranch transactions of this magnitude, particularly in the Texas Panhandle, where such properties are often divided and rarely reassembled. The liquidation of the asset was prompted by the expiration of an operating agreement within the family partnership that owned the ranches.