Dallas investor and conservationist J. Luther King has expanded his family’s ranch holdings in Texas with the acquisition of a 5,067-acre property in McCulloch County, known as the San Saba River Ranch. This purchase marks the first time since 1898 that the property has changed family ownership.
The San Saba River Ranch features a mile-long section of the San Saba River, which runs year-round. A dam on the land forms a six-acre reservoir, and two other tributaries also cross through the property. Located about an hour from San Angelo, the ranch includes a four-bedroom, four-bathroom stone house and a skeet shooting range.
The seller had cleared much of the underbrush from the property to leave scenic hardwoods and promote wildlife growth. The sale price was not disclosed; however, it was listed for $22.8 million or $4,500 per acre. The Haynes Team with Triangle Realty co-listed the ranch with Dullnig Ranch Sales.
Robert Dullnig, owner of Dullnig Ranch Sales, commented on market conditions: “Proximity to metropolitan areas drives a lot of it, so when you get into some areas that are over two hours away, and you don’t have the live water or the big whitetail, those properties are probably taking a little longer to sell.”
J. Luther King is also known as founder of Luther King Capital Management Corporation in Dallas. His family now owns more than 100,000 acres across six counties in Texas, including other large properties such as 4K Livermore in the Davis Mountains and 4K Brady Creek Ranch.
Despite this latest addition to their portfolio, the Kings remain about 200,000 acres short of being among Texas’ top ten largest landowners—a list currently led by Texas Pacific Land Corporation and ending with commodities broker Mike Smith at 323,000 acres.
