Trust tied to coal mining magnate buys 27-acre Wellington horse farm

Sellers assembled the land for $1.17M in 2000

Miami /
Jul.July 16, 2019 04:30 PM
Fritz Kundrun and 4481 Garden Point Trail (Credit: Realtor)

Fritz Kundrun and 4481 Garden Point Trail (Credit: Realtor)

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.


Related Articles

arrow_forward_ios
Waterstone At Wellington Apartments and Vista Lago Apartments (Waterstone, Vista Lago)
RREEF pays $158M for multifamily complexes in West Palm Beach, Wellington
RREEF pays $158M for multifamily complexes in West Palm Beach, Wellington
Glenn Straub and 2855 Hurlingham Drive (Casino.org, Google Maps)
Glenn Straub buys Wellington estate for $9M
Glenn Straub buys Wellington estate for $9M
Mark Bellissimo and Coach House. (Coach House Wellington)
Mark Bellissimo buys Coach House condo site in Wellington
Mark Bellissimo buys Coach House condo site in Wellington
Ruediger “Rudy” Adolf and 13664 Quarter Horse Trail, Wellington (Wikipedia/Focus Financial, Google Maps, iStock)
Ponying up: Wealth management magnate pays $14M for Wellington equestrian estate
Ponying up: Wealth management magnate pays $14M for Wellington equestrian estate
Continental Realty Corp. CEO J.M. Schapiro. and The Shoppes at Sherbrooke’s anchor, LA Fitness
Continental Realty buys LA Fitness-anchored shopping center near Wellington
Continental Realty buys LA Fitness-anchored shopping center near Wellington
Don and Katrina Peebles with their recently purchased Bath Club unit. (Getty, ONE Sotheby’s International Realty)
Don Peebles buys unit at the Bath Club, finds buyer for Coral Gables estate
Don Peebles buys unit at the Bath Club, finds buyer for Coral Gables estate
Matthias Krull (Linkedin, iStock, US District Court - Sourthern District of Florida/Illustration by Alexis Manrodt for The Real Deal)
Swiss banker’s sentence slashed in alleged $1B Venezuelan money laundering scheme
Swiss banker’s sentence slashed in alleged $1B Venezuelan money laundering scheme
Patrick Galley & Cindy Galley and 12549 Cypress Island Way in Wellington (Photo via Redfin)
Investment exec spends $6M on waterfront Wellington home
Investment exec spends $6M on waterfront Wellington home
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...