Filed under: Estates
The Wall Street Journal reports that the estate where Edra Blixseth spent many happy years is now up for sale for $75 million. Porcupine Creek in Rancho Mirage is a 249 acre estate. Blixseth declared bankruptcy but is now a shareholder in the BLX Group, the holding company for the Yellowstone Club and this home. The seller is the trustee of the BLX Group. The Blixseths built the Porcupine Creek estate together. The property includes a 25,000 square foot main residence, guest houses, a gym and spa, golf clubhouse, golf course and more. Jeff Hyland of Hilton & Hyland and Tyler Morgan of Pacific Union GMAC Real Estate in Palm Springs have the listing but an official listing hasn't hit the web yet. Any potential sale would be subject to bankruptcy court approval in Montana.
The one question on anyone's mind is, will it sell for even close to that price? The Wall Street Journal's Robert Frank who has visited the property believes that it would make a fine resort. He suggests that a company like the Four Seasons or even a resort-minded mogul like Donald Trump might be a buyer who can make the most of the home. It bears noting that $75 million was also a price Tim Blixseth was once looking for his island retreat, Emerald Cay. He has since revised his expectations and that tropical paradise is now listed at $48.5 million.
UPDATE: Thanks to Ben for leading me to the Christie's listing. The pictures aren't great but they do give a bit of an idea as to the scale of the property.
Gallery: Porcupine Creek