Kentucky horse breeder buys in Gulf Steam

R. Alex Rankin and Sarah T. Rankin bought a two-bedroom, two bath home at 3883 Bermuda Lane in Gulf Stream from Raili and Craig Raymond for $455,500 on May 6.

Craig Raymond paid $275,000 for the property in April 2003.

Mr. Rankin is the president of Sterling G. Thompson Co., a commercial insurance company in Louisville, Ky.

He is also the president of Upson Downs Farms, a family-owned thoroughbred breeding farm in Goshen, Ky.

Sales in Gulf Stream are down 72 percent in 2008 versus 2007. The median sales price, however, is up from $1,400,000 in 2007 to $1,600,000 so far this year.

Address: 3883 Bermuda Lane, #0070
Buyer(s): R Alex Rankin and Sarah T Rankin
Seller(s): Raili Raymond and Craig Raymond
Sale date: 2008-07-03

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