Jake Paul Closes One Of The Largest Real Estate Deals In Georgia History With $39 Million Purchase of 5,600-Acre Ranch
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
YouTube icon and sometimes professional prizefighter, Jake Paul has just completed one of the biggest real estate deals in Georgia’s history. According to the Robb Report, Paul laid out $39 million to purchase a 5,600-acre ranch in Decatur County. The property, known as Southlands, was originally a hunting lodge. However, it now appears as if Paul will have it all to himself to enjoy.
Paul beamed about the purchase on his “Iced Coffee Hour” podcast, where he also revealed he has been dreaming about buying a ranch for a long time. “I’ve wanted to buy a ranch for the last 15 years,” he said. “I wanted a place where I can wakesurf, hunt, and build a racetrack.” Paul also said he was excited about the prospect of using the expansive property to begin growing some of his own food and commune with nature.
Don’t Miss:
Although Paul began his career on YouTube, he has made a high-profile transition to professional boxing. He is coming off a victory over former world champion Mike Tyson in a lucrative pay-per-view match that, according to the Robb Report, paid him $30 million. Paul also told his listeners that he used the earnings from that fight to purchase Southlands. The Robb Report says Jon Kohler and Walter Hatchett of Jon Kohler & Associates brokered the transaction.
Broker Jon Kohler & Associates, which handled the transaction, said in a press release that Paul’s purchase was “one of the most expensive private land purchases in Georgia history.” Kohler described it as “land ownership equivalent of owning an NFL team.” The property’s history dates back nearly 100 years, when conservationist Herbert Stoddard purchased a 26,000-acre parcel that would become known as Southlands.
Trending: It’s no wonder Jeff Bezos holds over $250 million in art — this alternative asset has outpaced the S&P 500 since 1995, delivering an average annual return of 11.4%. Here’s how everyday investors are getting started.
In 1937, Stoddard sold the land to former Rhode Island Sen. Jesse Houghton Metcalf, who built a lodge on a bluff overlooking Lake Seminole. It was under Metcalf’s ownership that Southlands became known as a sportsman’s paradise. Lumber giant International Paper (NYSE:IP) purchased Southlands in 1958. It owned the property until 2010, when it caught the eye of investor Jim Dahl.
Source link