Gap's Crown Vineyard sold for over $13m
Gap’s Crown Vineyard, a Sonoma Coast estate owned by the California Public Employees Retirement System (CalPERS) in a joint venture with Premier Pacific Vineyards, has been sold for over $13m to Bill Price, a financial investor who holds ownership interests in wineries such as Kistler, Three Sticks, Gary Farrell, Kosta Browne and Durell Vineyard.
Located next to Sangiocomo Vineyard on Roberts Road near Cotati, the 138 acre vineyard has variety of soil types at an elevation of 300-800ft above sea level. It mainly produces Pinot Noirs from 106 acres and Chardonnay from 32 acres of the site.
Kosta Browne winemaker Michael Browne was quoted by Wine Spectator as saying that the vineyard doesn't get affected by cold air at such heights and produces fruits with intense flavor.
The vineyard supplies its grapes to more than 20 wineries, including Kosta Browne, Patz & Hall and MacPhail.
Price told the website that he plans to continue supplying grapes to producers.
According to the plan, around 37 acres will be leased to Kosta Browne, while Three Sticks and Price Chanin will also receive grapes from the vineyard.