In Brief: Cannae Holdings, Inc. has entered into an agreement to sell its 87% ownership interest in Brasada Ranch, a resort in Powell Butte, Oregon, to a company owned by William P. Foley, II, the company’s Vice Chairman, in exchange for the termination of Mr. Foley’s put right.
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Image Credit Brasada Ranch
Cannae Holdings, Inc. has agreed to sell its 87% ownership interest in Brasada Ranch, a destination resort in Powell Butte, Oregon, to a company owned by William P. Foley, II, Vice Chairman of Cannae Holdings. The transaction includes the termination of Foley’s put right.
The deal values Brasada Ranch at an estimated enterprise value of $40 million, including the buyer’s assumption of approximately $17 million in property debt. Cannae has owned Brasada Ranch for more than 10 years and has received $13.5 million in distributions, fully recovering its original investment prior to the transaction.
In the past two years, distributions from Brasada Ranch have slowed as the resort entered a new development phase that requires significant capital expenditures and management time to expand the community and improve facilities. The sale aligns with Cannae’s strategy to reposition its portfolio and monetize non-core assets.
The transaction was reviewed and unanimously approved by Cannae’s Related Person Transaction Committee and Board of Directors. Foley did not participate in the Board’s deliberations or vote on the transaction.
The transaction is expected to close on or before July 15, 2026, subject to closing conditions. It will eliminate the put right and is expected to free up at least $47 million of capital for redeployment.