At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.

Aspen Valley Ranch, previously owned by Tellurian co-founder and natural gas pioneer Charif Souki, has been sold in pieces after hitting the market for $220 million in 2020, The Wall Street Journal reported on Thursday.

A year after the lavish Colorado ranch was listed, two homes on the 830-acre property were sold for $47 million. Souki ended up in a legal battle with lenders, losing control of the remainder of the property.

In January, lenders bought that property out of bankruptcy for $30.5 million, public records show. Five months later, Bay Point Advisors, an Atlanta-based hedge fund, purchased 300 acres of the ranch from Souki’s lenders, company officials said.

According to Bay Point President and Chief Investment Officer Charles Andros, Bay Point intends to finance the construction of future homes to be built on the property.

“We’re going to end up selling them off,” Andros said.

Souki purchased the property back in 2013 for $27 million. He spent millions building homes and ultimately a “mini-country club” on the ranch where he lived with his family, Souki told The Wall Street Journal. Once construction was complete, he intended to sell the ranch.

After defaulting on over $100 million in loans back in 2020, creditors foreclosed on Souki’s assets and sold them, the ranch included.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×