Press Release

Prescott Valley Horseracing Track Sells for $3.22 Million

12 1 2018

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CBRE announced the sale of Yavapai Downs, a 124-acre horse racetrack property, located 11 miles from downtown Prescott on Highway 89A. Chris Ackel and John Amory Jr. with CBRE Phoenix represented the buyer, Phoenix-based JACOR Partners. The property was sold for $3.22 million out of U.S. Bankruptcy Court in a deal that closed Jan. 11, 2018.

The sale encompasses the Yavapai Downs racetrack, a 90,000-square-foot clubhouse/grandstand and 800 horse stalls. The new owners include Tom, Dave and Mike Auther as well as Joe Jackson of JACOR Partners along with Kentucky Downs president Corey Johnsen. Together, the group plans to renovate the site and restore live racing to the venue, which ceased operations in 2010. The track, which is located approximately 90 miles northwest of Phoenix, has traditionally been a destination for horseracing fans from across the Valley.

“The Prescott area has a long, rich history of horseracing dating to the 1930s, and we’re excited to bring this tradition back to this part of Arizona,” said JACOR principal Tom Auther. “With Corey’s expertise in managing horseracing facilities, we will once again offer residents, visitors and horserace lovers alike a memorable summertime experience.”

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.