Bill Gates buys Rancho Santa Fe horse farm owned by Jenny Craig
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Photos courtesy of Trulia.com

Bill Gates buys Rancho Santa Fe horse farm owned by Jenny Craig

Photos courtesy of Trulia.com

Photos courtesy of Trulia.com

Billionaire Bill Gates has big plans for a Rancho Santa Fe thoroughbred training center that he recently bought from weight loss guru Jenny Craig: He plans to remodel the shuttered facility and turn it into a grand prix circuit for hunters and jumpers.

Gates, who purchased the horse farm for $18 million in September, isn’t a stranger to the San Diego real estate market; he owns a home in the Del Mar Country Club. His teen daughters jump horses competitively. Still, the purchase by the philanthropist and founder of Microsoft — whose estimated net worth of $81 billion makes him America’s most richest man, according to Forbes magazine — is widely considered to be one of the largest real estate in San Diego transactions  in recent months.

It comes after homes for sale in Del Mar sold for $22.9 million in June and a property in Del Mar sold for $18.75 million last year.

Craig’s 229-acre  horse farm had been used as a training ground for thoroughbreds, as well as injured horses, until it was closed in May 2013. Gates’ purchase marks the end of a storied saga for the property: Craig had owned the facility since 1995. It was first listed on the market in 2010 for nearly $30 million after the industry declined. Later, it was discounted to $25 million before it was pulled from the market in 2012. The San Diego Union Tribune reported Craig considered other uses for the property, including a possible golfing or  hotel development, but is reportedly happy to have it return to its equestrian roots.

The property includes a three-quarter-mile dirt training track, four 30-stall barns and rehab equipment for injured horses along with two apartments.

Craig’s 229-acre Rancho Santa Fe estate went on the market for $39.5 million in August. Her Del Mar home for sale is one of the most expensive homes for sale in San Diego County.

 

 

 

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