Icon Global Lists 77,000-Acre Turkey Track Ranch for $180M

Icon Global has relisted the historic 77,721-acre Turkey Track Ranch in the Texas Panhandle at an asking price of $180 million, including a 25% mineral stake. The legacy asset returns to public marketing following a recovery period after the February 2024 Smokehouse Creek Fire.

### Catalyst Analysis: Legacy Asset Relisting and Recovery The property, held for over a century by the Coble and Whittenburg families, was previously withdrawn from sale discussions following the Smokehouse Creek Fire, which impacted approximately 60% (46,000 acres) of the range land. Ownership representatives have since completed extensive property rehabilitation, installing approximately 65 miles of new fencing, restoring native vegetation and pastures, and returning the cattle operation to full capacity.

### Technical Analysis & Key Risk Watch

Key levels for $ADBE+WL (educational): R2 $241.74 · R1 $235.48 · last $235.47 · S1 $234.96 · S2 $225.00.

Water resources anchor the valuation of the nearly 80,000-acre contiguous holding. The property features approximately 26 miles of Canadian River frontage, eight major creek basins, natural springs, underlying Ogallala Aquifer access, 64 water wells, and five irrigation pivots spanning 838 acres. Long-term conservation infrastructure, including earthen dams built during the 1950s drought, underpins the agricultural and recreational production capacity of the land.

### Impact on Asset Markets Ultra-prime real estate holdings of this scale in the American West represent scarce, non-correlated luxury and agricultural assets. Transactions of this magnitude highlight the liquidity and demand profiles for premier generational land packages with established water rights and mineral ownership fractions.