Alcoa Inc. puts massive Texas land holdings, water rights on market for $250M

New York-based metals manufacturer Alcoa Inc. (NYSE: AA) has put its Texas land holdings on the market for $250 million, which include a vast array of water rights that could be the biggest known water rights deal struck of its kind in the Lone Star state.

The property — known as Sandow Lakes Ranch — totals nearly 33,800 acres of land that sits about 45 miles east of downtown Austin and, if sold, could be the biggest of its kind in Texas, said Bernard “Bernie” Uechtritz, who is the Dallas broker behind the sale of the famed $725 million Waggoner Ranch.

“This is the largest water deal of its kind,” he told the Dallas Business Journal.“It has an incredible amount of holding capacity and that holding capacity could be increased.” Read more from Dallas Business Journal