Trust tied to coal mining magnate buys 27-acre Wellington horse farm
Sellers assembled the land for $1.17M in 2000
The retired CEO of one of the largest IHOP franchise groups came to Wellington hungry and can leave happy, now that he’s sold his 27-acre equestrian estate.
Property records show Martin B. and Marcy L. Freedman sold the property at 4425, 4481 and 4545 Garden Point Trail, plus 4414 and 4428 Palm Breeze Trail, for $11 million. The buyer is Palm Breeze Point LLC as trustee of the Palm Breeze Point Trust, and lists the address of Fritz and Claudine Kundrun.
Fritz Kundrun was CEO of American Metals & Coal International, also known as AMCI. The steel, coal and energy company has investments around the world, including mining operations in Australia, Africa and North and South America, according to its website.
Martin Freedman was CEO of IHOP franchise group FMS Management Systems, which in 2007 was acquired by Sunshine Restaurant Partners. At that time, FMS owned, operated and sub-franchised 148 IHOP restaurants in Florida and in parts of Georgia.
The Freedmans spent a combined $1.165 million assembling their Wellington property in 2000, records show. It was last on the market with David Welles of Equestrian Sotheby’s International Realty for $12 million. Tim Childers with Florida Professional R.E. represented the buyer, according to Realtor.com.
The property includes 11 oversized paddocks, a 5-acre sand exercise track, a grass jump field, pond and round pen, a 10-stall barn, a main house with four bedrooms and five bathrooms, and a separate two-bedroom, two-bathroom guest house.
It also features a four-car garage, equipment storage building, a reverse osmosis water system, and a propane-powered generator, according to the listing.
Wellington is known as the winter equestrian capital of the world. A trust linked to billionaire Bill Gates recently paid $21 million for an equestrian estate in a gated Wellington community, near his Evergate Stables property.