Home on the range

Round Top ranch in central Texas to be sold via auction, starting at $9.95M

A ranch just outside popular shopping mecca Round Top is for sale: The Vine, a luxury property in New Ulum, about halfway between Houston and Austin, is on the market for $9.95 million.

Currently used for weddings and corporate events, the 30-plus-acre ranch could easily be adapted to a private family compound. For those looking for an investment, there has been possible interest in turning it into a boutique hotel.

It's listed by Rick Doak of Republic Ranches LLC, and will be sold at auction by Concierge/Sotherby's Auctions.

Among its many amenities, The Vine offers seven indoor and outdoor venue spaces, including a vineyard, winery, a tasting room with a screened-in patio overlooking said vineyard, wedding chapel with high ceilings and room for more than 250 guests, and barn reception area. There's room to build a helipad.

Originally built in 2016, the thoughtfully designed space features fine detailing throughout, with high-quality finishes, stone detailing, reclaimed barn wood, and custom fixtures. All of the furnishings will stay with the property following the sale. The Vine's rustic luxury feel makes it a perfect investment for those seeking to capitalize on Round Top's ever-growing popularity. And the property's proximity to the city center is another selling point.

Those looking for a second home can easily transform The Vine to their weekend getaway with additional outbuildings, and other structures and amenities.

The surrounding land's natural beauty has been respected and has three stocked lakes and plenty of native wildlife including deer, fox, rabbits, quail, dove, turkey, and Texas songbirds.

Bidding runs from October 4 to 11, with starting bids expected between $1million and $3 million. Qualified showings are by appointment only. Interested buyers should email for more details.

The Vine

The Vine, a 30-plus-acre ranch near Round Top, is for sale for $9.95 million.

Real Estate News

Dallas real estate developer pleads guilty to bribing 2 city officials

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Dallas developer Sherman Roberts

Dallas real estate developer Sherman Roberts pleaded guilty on November 12 to conspiracy to commit bribery, according to a release from the U.S. Attorney for the Northern District of Texas Leigha Simonton.

Roberts, 70, who previously helmed City Wide Community Development Corporation, was indicted in December 2020. According to court documents, Sherman bribed two city council members — Mayor Pro Tem Dwaine Caraway and City Council member Carolyn Davis — to support loans and low-income housing tax credits for his apartment projects.

In return for several thousand dollars in cash – plus the promise of future payments after her city council tenure ended – Davis lobbied for Roberts' real estate projects, including Serenity Place, Runyon Springs, and Patriot’s Crossing.

She promoted Serenity Place to the City Housing Committee, demanded other developers also seeking real estate funding withdraw their applications in order to increase Roberts' chances of success, recommended Serenity Place receive a 9 percent low income housing tax credit, and voted to approve a $1.9 million loan from the city of Dallas.

“Right now you and me are making money,” Roberts texted Davis shortly after the vote.

Later, she repeatedly reached out to ask for more money — "just a few dollars" — and he agreed.

Davis and Roberts then met with Caraway to address a problem with the Patriot's Crossing project. In return for several hundred dollars cash and a $2,000 monthly stipend, Caraway agreed to stop the city from issuing a request for proposal (RFP) for the Patriots Crossing project and to deliver the project for Roberts.

“How much is the project worth?” Mayor Pro Tem Caraway asked. “Once you’re successful with this project, don’t forget about me.”

“I won’t forget about you,” Mr. Roberts responded. “That’s where the money is… the money has never been an issue.”

Roberts now faces up to five years in federal prison. He is slated to be sentenced on March 12, 2025.

Caraway pleaded guilty in 2019 to conspiracy to commit honest services fraud and tax evasion and was sentenced to more than four years in federal prison.

Davis pleaded guilty in 2019 to conspiracy to commit bribery concerning an agent of a local government receiving federal benefits, but passed away in a car crash before she could be sentenced.

Roberts was one of three real estate developers charged in connection with the bribery scandal. Devin Hall, the developer behind the Grand Park Place apartment project, pleaded guilty in August 2020. Ruel Hamilton, the AmeriSouth Realty Group executive who backed the Royal Crest housing project, is awaiting retrial on conspiracy and bribery charges.

The Federal Bureau of Investigation’s Dallas Field Office conducted the investigation with the assistance of IRS – Criminal Investigation’s Dallas Field Office. Assistant U.S. Attorney Marcus Busch is prosecuting the case with the help of Assistant U.S. Attorney Donna Max.