Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BRAZORIA COUNTY, TX-IP Farms Inc. has transferred title to 9,730 acres in an ongoing sale of assets near Chocolate Bay in Brazoria County, where a Houston couple put in the winning bid at a recent auction.

The transaction closes out a 40,000-acre listing for B. Kelley Parker and John Littman, a Cushman & Wakefield of Texas Inc. team in Houston. Some tracts brought more than $1,000 per acre during the course of the disposition, which has exceeded 18 months.

Frank and Rima Alattar’s new holding is situated 38 miles south of Houston and 12 miles south of the nearest town. The site includes prairie, coastal pasture and marshlands and has a waterfowl habitat and fresh and brackish water fishing on the Texas Gulf Plains. Littman says he believes the new owners plan to use the land for recreational and commercial purposes. But, he adds, the plans are still preliminary. Debbie Mahon at Southern National Bank provided financing.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.