Adena Springs Kentucky property being offered for $55 million

The Adena Springs Kentucky property remains on the marketplace after being officially listed last fall, with Icon Global, the company handling the sale, announcing that the 2,300-acre Paris, Ky., farm is priced at $55 million.

“Interest in the property has been consistent and global in nature since our initial announcement for a variety of end users,” Icon Global’s Bernard Uechtritz said in a press release, with the company also releasing a new video look at the property in a marketing push. “We have canvassed the spectrum of equestrian industry disciplines since announcing the intent to sell, and as a result, we are engaged in various discussions with prospects regarding new ownership. However, my mandate is to first explore and exhaust all interest and opportunities from global racing entities and identities in selecting the next steward.”

Icon Global has appointed Bill Justice and Bill Bell of Lexington's Justice Real Estate as local sales representatives.

Eclipse and Sovereign Award-winning owner and breeder Frank Stronach purchased this property in 2005 as a base for his bloodstock operations. In 2017, he offered it for sale for $80 million, but the property was withdrawn from the formal marketplace after no firm offers were received.

The Adena Springs Kentucky farm is currently owned by The Stronach Group, following a long feud by Frank Stronach with family members over control of his racing and breeding assets. In 2018, Frank Stronach and his daughter Belinda Stronach filed lawsuits and countersuits against each other relating to control of those assets, and the suits were settled in 2020. Under the settlement, the “real-estate assets remain with TSG” while “breeding and training operations are under the control of Mr. Stronach,” a spokesperson for TSG said when the property was listed last fall.

In preparation for the listing of the property, Frank Stronach entered into a partnership with John Sikura's Hill ‘n’ Dale Farm, which is now based at the former Xalapa Farm nearby in Paris, Ky., to stand his stallions at that property. Those stallions, including Horse of the Year and successful sire Ghostzapper, are now completing their second season at Hill ‘n’ Dale.