Someone just bought a south Florida horse farm from a co-founder of Artisan Partners
The Real Deal reports
| Andrew Ziegler|
that Andrew Ziegler
sold his seven-acre "Artisan Farms" in Wellington to "a Delaware company called H5 Stables" for $17.45 million. Ziegler bought the property in 2006 for $16 million, so (not accounting for taxes and transaction fees) he earned a 0.8 percent annualized ROI.
The farm went on the market in January with a price tag of $19 million, which would've translated into an annualized ROI of 1.7 percent.
The two parcels of the farm, per the south Florida real estate news publication, "has stalls for 35 hours, a 'grand prix' field and two arenas." Plus, "the compound has a lounge for the owners, two apartments for horse groomers, each with two bedrooms, and a deluxe three-bedroom apartment for a property manager." The publication adds that the farm is "prime turf in Palm Beach County's horse country."
Ziegler and his wife, Carlene Murphy Ziegler
, founded Artisan in 1994. Carlene Ziegler retired from the company in 2008, Andy Ziegler passed the CEO baton in 2010, and last year he passed
the chairman baton. The Milwaukee, Wisconsin based mutual fund shop IPOed in 2013.
Neil Anderson, Managing Editor
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