Walmart heir pays $22M for Cherry Hills Village properties

Walton buys properties in Cherry Hills Village

Snow-covered homes in Cherry Hills Village, where two purchases this year have exceeded $20 million. (Hyoung Chang/The Denver Post)

A Walmart heir is joining Russell Wilson in dropping more than $20 million on Cherry Hills Village real estate.

Earlier this week, Terra Nevada LLC paid $22 million for four parcels in the municipality south of Denver, according to public records. That entity lists a Bentonville, Arkansas, address that Ben Walton and his wife Lucy used in connection with their sale of a Cherry Creek office building in September 2020.

Walton Ben Walton

Ben Walton

Walton is the grandson of Walmart founder Sam Walton. He’s not new to the area. He and his wife also own a home in Hilltop, and their family office ZomaLab — which is focused on tackling environmental problems in Colorado and Chile, according to its website — is headquartered in Denver. A request for comment made through ZomaLab was not returned.

The Arapahoe County deed indicates that the Waltons purchased four separate lots. Arapahoe County records indicate the combined site is nearly 8 acres. The properties don’t appear to have been formally on the market.

Google Maps imagery and Zillow pages show that there are three homes across the four lots. A 3,127-square-foot home features four bedrooms and five bathrooms; a 6,318-square-foot home has four bedrooms and six bathrooms; and a 2,962-square-foot home features four bedrooms and five bathrooms, according to their Zillow pages.

The properties were sold by Stanford & Vine LLC, which is managed by local wildcatter William D. Armstrong, records show. Armstrong is the CEO of Armstrong Oil & Gas, according to its website.

It’s the second priciest residential sale ever in the metro area, trailing only Russell Wilson and Ciara’s purchase last month of a Cherry Hills Village home for $25 million, which BusinessDen was the first to report on.

Walton’s father Rob, the former CEO of Walmart, is one of the reported five bidders trying to buy the Denver Broncos, according to Sportico.

Editor’s note: This story was updated on May 25 to remove certain location details.

Walton buys properties in Cherry Hills Village

Walton buys properties in Cherry Hills Village

Snow-covered homes in Cherry Hills Village, where two purchases this year have exceeded $20 million. (Hyoung Chang/The Denver Post)

The sale comes weeks after Broncos quarterback Russell Wilson paid $25 million for a home in the village.

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