Almahurst Farm, Horse Racing Leader, Placed on Market

Almahurst Farm, which produced 1918 Kentucky Derby winner Exterminator and numerous harness racing champions, has been put on the market for $16 million.

The 884-acre farm, five miles south of Lexington in Jessamine County, is owned by P. J. Baugh. He cited his health, estate planning and a decline in the standardbred industry as the reasons for selling the historic farm.

“I guess it’s the toughest decision I ever had to make in my life,” said Baugh, 58, who bought Almahurst in 1963 and developed it into one of the industry’s leading farms.

“We put our heart and soul and assets in it.”

Baugh said a heart attack he had in October and his children’s lack of interest in running the farm made him reconsider whether he should keep it.

He began cutting back last year, selling mares owned in partnership and moving Almahurst stallions to New Jersey and elsewhere in the Northeast.

The farm, which will be offered worldwide by Ledbetter and Stewart Ltd., has barns for stallions, mares and yearlings, seven houses, an original log cabin, offices and a maintenance shop.