Media mogul Oprah Winfrey buys $29M horse farm
Historical purchase in Montecito, California
Oprah Winfrey bid for, and won, a sprawling equestrian estate on the California coast. Conducted by Alan Armstrong from Sage Auctions, Oprah is now owner of Seamair Farms.
This is a historic purchase as the property was put on the market for the first time in nearly 40 years. It had been owned by members of the Spencer T. Olin industrialist family. After the scheduled auction in November, potential buyers from Dallas, Chicago, San Antonio, Silicon Valley, New York, Hawaii, most of California and even Hong Kong, Oprah closed escrow on Feb. 5, 2016.
Oprah paid several personal visits to make sure it would meet the promises the positioning highlighted. "Obviously, she really is a very smart buyer and knows what she's doing. She had a number of experts inspect different aspects of the property and the extensive due diligence package we provided," said Mr. Armstrong.
According to CNN, spread over 5,000 square feet, the house boasts four bedrooms, four fireplaces, and overlooks a pool.
The estate also offers two private wells, plus two Montecito water meters and equestrian facilities surrounded by sprawling fruit orchards, and flat, usable land.
"Oprah's team was very professional and a pleasure to deal with," said Alan. "We feel she will now have the opportunity to create her 'dream' vision for what Seamair Farm will become."
Per CNN, this is the latest property purchase for Winfrey, who reportedly bought a $14 million ski chalet in Colorado late last year.