Restoring Ranch Land for a Profit, and a ‘Trout Dividend’
From the New York Times:
“From the road skirting its property line, Freestone River Ranch looks like a flat, cattle-trodden pasture flanked by rolling hills. But Jay Ellis, founder of the private equity firm Sporting Ranch Capital Management, sees something sparkling in the distance. … Mr. Ellis isn’t particularly interested in drinking this water. The real value he saw when he bought this 204-acre ranch a year ago was as a premier private fishing retreat 20 minutes from Park City. …
“Over the last year, the fund has also restored nearly three miles of river on a 760-acre parcel outside Pagosa Springs, Colo.; enhanced roughly two miles of river, added four lakes and skeet shooting on 518 acres in New Mexico; and started work on a private Yellowstone cutthroat trout fishery near Driggs, Idaho. … Water rights are a critical component, and each property comes with its own caveats, Mr. Ellis said.”
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