In an extraordinarily quick turn of events, long time Los Alamos resident Joe Carrari sold his 196 acre vineyard to the Lewellyn and Lucas partnership and in turn acquired the 3,472 acre Ferrero Ranch.

The Ferrero Ranch had been in escrow with another party from out of the area for some time. Having previously extended escrow twice, the other party was unable to perform at closing time. Carrari, who had known and admired the Ferrero Ranch for a long while, was in discussions at the time with Lewellyn and Lucas about the sale of his vineyard. But he wasn’t willing to sell without the opportunity to re-invest . With the failure of the other transaction for the Ferrero Ranch, a window of opportunity was opened, and all parties had to quickly jump through at once. Lewellyn and Lucas are no strangers to the Carrari vineyards since they own and operate the 85 acre vineyard next door. And Carrari had fallen in love with the Ferrero Ranch, only a couple of miles away, when he came to the Los Alamos Valley 26 years ago.

Within a couple of weeks of the termination of the failed escrow, new escrows were opened and the Ferrero/Carrari/Lewellyn & Lucas transaction, totaling nearly $12 million, closed two days later. “It was a matter of the two Buyers already knowing their new properties”, said Frank Ferrero of Rincon Corporation. “And the fact that we at Rincon had known all the parties personally for many years allowed for a smooth and very quick deal. This was a win-win-win deal.”

Carrari will move to the Ferrero ranch after a transition period, and is now deciding on its future course. While now busy making new improvements to the ranch, he is considering either leasing the farm ground to row crop farmers or to other vineyard operations. Rincon is working with Joe and some prospective tenants in these discussions.

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Information provided herein has been obtained from sources deemed reliable, but is not guaranteed