Val Kilmer turned 5,328-acre New Mexico ranch into retreat, then sold most of it
In 2011, Val Kilmer’s scenic Pecos River ranch in New Mexico changed hands after years on the market. Initially listed at $33 million, the asking price dropped to $18.5 million. The ranch not only boasted abundant natural beauty and guest facilities but also held a storied connection with Hollywood. Eventually, it was acquired by Texas oil tycoon Benjamin A. Strickling III and his wife,…
Val Kilmer purchased a 5,328-acre ranch along the Pecos River in New Mexico during the 1990s and transformed it into a secluded retreat away from the Hollywood spotlight. The property, known for its natural springs, wildlife, and scenic trails, featured guest cottages, staff quarters, stables, barns, and corrals. Kilmer kept horses and other animals on the land.
He had previously attempted to sell portions of the ranch, including an 1,800-acre section listed for $18 million in 2006. By 2009, Kilmer put the entire ranch on the market, initially asking $33 million for a property that offered more than five miles of river frontage and multiple homes and outbuildings. The asking price surged significantly from his early attempts to sell smaller sections of the ranch.
However, the market conditions caused the price to drop sharply by late 2010, with the ranch reduced to an asking price of $18.5 million. After controversy surrounding Kilmer's proposed guesthouses, the property obtained the necessary approvals from San Miguel County to operate as a bed-and-breakfast with rental cabins. The ranch's history also included ties to the larger Forked Lightning Ranch, which was initially owned by oilman Buddy Fogelson and actress Greer Garson.
After several years of being on the market, most of Kilmer's Pecos River property was sold in 2011 to Texas oil and gas executive Benjamin A. Strickling III and his wife, Roxann. The sale price of $18.5 million marked a significant decrease from Kilmer's initial $33 million asking price, representing roughly 44% below the initial listing.
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