Churchill Downs Inc. announced Nov. 22 an agreement to sell 115.7 acres of land near Calder Casino for $291 million to the real estate company Link Logistics.

The closing of the sale of the property, anticipated in the first half of 2022, is subject to the satisfaction of various closing conditions. CDI is planning to use certain proceeds of the sale to purchase or invest in replacement property that qualifies as an Internal Revenue Code §1031 transaction, the company said in a release.

Following the closing of this transaction, CDI will retain ownership of approximately 54 acres of the current 170-acre parcel of land on which the CDI’s wholly-owned Calder Casino sits.