Californian Gary Broad Purchases Historic Walmac Farm
Image:
Description:
Photo: Anne M. Eberhardt
Songandaprayer in his paddock at Walmac Farm in 2006
The historic Walmac Farm near Lexington was purchased by California owner-breeder Gary Broad for $4.8 million at auction Nov. 8.
Founded by John T.L. Jones Jr., the 248-acre property is well-located within close proximity to prominent breeding nurseries, including Gainesway Farm, and is across from the Kentucky Horse Center.
According to the brochure by Justice Real Estate listing the farm, the property's stallion complex has the capacity for 20 stallions and there is an additional 50 stalls in three barns for mares, foals, and yearlings.
Among the leading sires that stood at Walmac were Nureyev, Miswaki, and Alleged. Grade 1 winner Songandaprayer stood at the farm from 2005-12, and grade 2 winner Successful Appeal stood there through 2018.
"It's a beautiful piece of property and historic and is in need of some work," said realtor Tom Biederman, whose Biederman Real Estate represented Broad in the transaction. "There was plenty of activity there, and it was bought at a fair price."
"Every seller would like to get more money, and we had a lot of good bidders registered and it sold well, for what it's worth," said auctioneer Walt Robertson.
Among the best horses campaigned by Broad have been multiple grade 2 winner Buzzards Bay, multiple grade 3 winner Mr Gruff, and Core Beliefs, winner of this year's Ohio Derby (G3).
In 2007, Broad purchased the 83-acre Aldabbagh Ranch near Murrieta, Calif., at auction for $7.7 million and renamed it Oakmont Ranch.
"There has been excellent trade this year," Biederman said of the Thoroughbred farm market, adding there have not been many properties listed. "The fact is, the horse industry is so good there aren't many farms on the market."
Among other prominent Thoroughbred properties that have changed hands recently was Golden Age Farm for $6.6 million.
In addition to the accommodations for horses, Walmac consists of an updated main residence consisting of approximately 5,935 square feet that was constructed in the 1800s, a 4,490-square-foot office, manager and guest homes, and five employee houses.