Sheila Johnson, the African-American businesswoman and co-founder of cable TV channel, Black Entertainment Network (BET), has made a multimillion-dollar sale.
Johnson sold her equestrian estate in Wellington, Florida for $21.68 million through one of her companies, Olde Hampton Drive LLC, an entity controlled out of her home in Virginia.
The sprawling 14.15-acre property at 3531, 3545, and 3585 Olde Hampton Drive was sold to Shady Grove Road Commercial Properties, with BNA Bank providing a $13.112 million mortgage to facilitate the completion of the deal.
The equestrian estate is located in Grand Prix Village, an exclusive gated community of equestrian properties sited near the Palm Beach International Equestrian Center, the home of many equestrian competitions.
Equestrian homes and estates come with stables and other facilities for horses, including grazing land and riding trails. These properties often include a manor home, barns, climate-controlled stables, farrier stalls, and an equestrian arena.
With the details of when Sheila Johnson acquired the equestrian estate not readily available, it is not possible to ascertain how much she has made from the sale of the property.
However, Johnson’s net worth has risen by $80 million from $700 million to $780 million since 2015, according to Forbes thanks to the strong valuation of her hospitality management company, Salamander.
Salamander provides accessible, non-traditional luxury without sacrificing comfort, which has helped it to capitalize on a gap in the hospitality industry. In line with Salamander’s strategic expansion plans, the hospitality firm led by Johnson is rapidly expanding.
It added three properties in 2022, bringing its portfolio to seven properties spread across Washington, D.C., South Carolina, Florida, Colorado, Virginia, Jamaica, and Anguilla.
In September 2022, Salamander partnered with Henderson Park, a private equity real estate manager based in London, to manage a 373-room property formerly known as the Mandarin Oriental Washington D.C. The property has since been rebranded as Salamander DC.
