As the equestrian sport continues to grow, so does the demand for equestrian properties. Horse racing has gained even more popularity after celebrities and billionaires like Jessica Springsteen and Jennifer Gates started to master the sport. Now, the equestrian properties have taken center stage in the sports market, and are often sold in millions.

On similar lines, a 24-year-old property racked up millions in Lake Saint Louis. A reputed company acquired the equestrian center as part of its growing park system.

Equestrian center worth millions sold in Lake Saint Louis

In a major update, the National Equestrian Center in Lake Saint Louis was sold to St. Charles County, who are expanding their park system business. The privately owned center was acquired by St. Charles Co. for a whopping $5.9 million. The facility was opened in 1999 as an American Exposition Park. However, it became dysfunctional due to financial reasons and was acquired by Carmela Natoli in 2002 for $4.9 million.

Natoli was the president of an engineering firm and did some renovations. But he died in 2012, and the facility was maintained and operated by County officials and Natoli family members. Although the center is worth $7.9 million according to a county spokesman, the difference w.r.t to the acquired value price is said to be due to a donation of difference. “It’s a tourism destination that attracts people from around the country, and we look forward to carrying on the tradition of hosting high-quality equestrian events“, he added. However, even the $7.9 million may be less for this facility.

National Equestrian Center facilities

If the county spokesman’s words are to be believed, the equestrian center has been making $250,000 to $300,000 per year in recent times. That said, the appraised value price does seem a little less. Doesn’t it? As it enters its 25th year, the equestrian center has expanded to 54 acres housing a multitude of facilities.

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The facility has three arenas for horse shows and equestrian events. To add to that, it also has 6 barns and 585 horse stalls. Additionally, it has 63 camping spaces and a banquet hall which can seat as many as 250 people. Although the deal was sealed in October, it was announced this week only marking the start of a new era at the reputed center.

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