I don’t have backup sources to confirm this, but I’ve got some information indicating Seth Klarman’s Baupost Group investment firm has purchased Jalama and Cojo Ranches for around $135 million. The 24,000 acres have been used extensively by Hollywood producers for various movie settings. The property includes several miles of coastline, completely untouched by annoying tourists.

This is an odd move for Klarman, because it seems highly speculative. Some people have claimed he’s hoping to use the property for slant oil drilling and also selling it off as individual lots. I’m inclined to believe the latter, because the former is much more difficult than it sounds, especially with local laws that aren’t exactly favorable towards oil drilling.

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