Sheila Johnson, an African-American businesswoman and co-founder of the cable television channel Black Entertainment Network (BET), has sold a multimillion-dollar stake in her company.
Johnson sold her equestrian estate in Wellington, Florida for $21.68 million through one of her corporations, Olde Hampton Drive LLC, which she managed from her Virginia home.
Shady Grove Road Commercial Properties purchased the huge 14.15-acre property at 3531, 3545, and 3585 Olde Hampton Drive, with BNA Bank providing a $13.112 million mortgage to complete the transaction.
The equestrian estate is located in Grand Prix Village, a private gated enclave of equestrian residences near the Palm Beach International Equestrian Center, which hosts numerous equestrian competitions.
Stables and other horse-related amenities, such as grazing area and riding routes, are included in equestrian residences and estates. A manor house, barns, climate-controlled stables, farrier stalls, and an equestrian arena are common features of these properties.
It is impossible to know how much Sheila Johnson made from the sale of the equestrian estate because the specifics of when she purchased it are not readily available.
According to Forbes, Johnson’s net worth has increased by $80 million during 2015, from $700 million to $780 million, mainly to the high valuation of her hospitality management company, Salamander.
Salamander offers affordable, non-traditional luxury without sacrificing comfort, allowing it to fill a void in the hospitality sector. Johnson’s hospitality enterprise is fast developing in line with Salamander’s strategic expansion ambitions.
In 2022, it added three properties to its portfolio, bringing it to seven spanning Washington, D.C., South Carolina, Florida, Colorado, Virginia, Jamaica, and Anguilla.
Salamander collaborated with Henderson Park, a private equity real estate firm located in London, in September 2022 to operate the 373-room Mandarin Oriental Washington D.C. Salamander DC is the new name for the property.