01/08/2013 2:34PM

Sanan sells Kentucky farm to Borges Torrealba

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Padua Stables’ Satish Sanan has sold his family’s Kentucky farm to Borges Torrealba Holdings, the farm confirmed on Tuesday. The Torrealba family of Brazil recently made a major investment in Robert and Blythe Clay’s Three Chimneys Farm near Midway, Ky., which managed the Padua farm near Lexington, Ky., for Sanan. The reported sale price is $8.8 million.

Sanan purchased the property in 2008. Previously known as Bluegrass Heights farm, the 275-acre property adjoins Three Chimneys’ Old Bradley Place division. Sanan initially conducted renovations and expanded the facilities at the Kentucky property while attempting to sell his farm in central Florida, which remains on the market.

Sanan said that he is in the process of selling some of his bloodstock holdings. Goncalo Torrealba, operator of Stud TNT in Brazil, formed Borges Torrealba holdings with family members. Borges Torrealba has been active in recent sales along with their investment in Three Chimneys, purchasing the sale-topping Pure Clan at the Keeneland November breeding stock sale for $4.5 million.