Val Kilmer’s sprawling 5,328-acre estate along the Pecos River changed hands in 2011, marking the end of a long, turbulent chapter for the Hollywood actor. The property, located 22 miles northeast of Santa Fe in San Miguel County, went from a $33 million listing to a final sale price of $18.5 million. Texas oil and gas executive Benjamin A. Strickling III and his wife, Roxann, closed the deal, with the deed transfer recorded on September 30, 2011, according to CBS News and property reports.
The price cut was steep. Kilmer had initially listed the entire ranch at $33 million in 2009, a significant jump from his earlier 2006 attempt to sell just a 1,800-acre section for $18 million. By late 2010, the asking price had plummeted to $18.5 million, down from $23 million earlier that year. The final figure represented a roughly 44% reduction from the peak listing, reflecting a difficult market for large rural holdings in New Mexico.
The land itself was more than just acreage. It featured over five miles of Pecos River frontage, more than 10 natural springs, and extensive hiking and riding trails through canyons and pine forests. Kilmer had developed the site into a secluded retreat with guest cottages, staff quarters, stables, and a large main residence. He had also secured permission from San Miguel County to operate the property as a bed-and-breakfast with rental cabins, a move that initially sparked local controversy.
The ranch has deeper roots in Hollywood history. It formed part of the larger Forked Lightning Ranch associated with oilman Buddy Fogelson and actress Greer Garson. Fogelson purchased the original 5,500-acre property in 1941, using it as a gathering place for prominent figures. After Fogelson’s death, the land was divided among heirs, with portions eventually passing to Kilmer and actress Jane Fonda. The National Park Service notes that the broader historic site remains preserved in part through Pecos National Historical Park.
Kilmer had acquired his portion in the 1990s, spending years building a base away from the Los Angeles glare. The sale to Strickling signals a final shift in the property’s legacy, moving it from a private star’s hideaway to a high-end hospitality and conservation asset under new Texas ownership. The future of the specific guesthouse operations remains under the new owners’ management, but the land’s historic status remains intact.