Gilroy doesn’t have name recognition like Napa or even Sonoma. My friend has a 20 acre vineyard in Dry Creek. Near Healdsburg. Prime location. But his Pinot noir grapes are sold to Piper Sonoma, for less than $1/#. Very little profit. Prime location, name winery.
Lodi grapes go for $400/ton. About a break even for machine farming. Nobody makes money growing wine grapes except a few Napa growers that get up to $25,000/ton for wine that sells for $250/bottle.
I know a lot of rich people. Not many drink $250 wine very often. 90% of wine sells for less than 10/bottle. That means most grapes sell for less than .50/#. About break even for small producers.
My grapes cost me about 1/#, not including capital costs. Just wine maintenance. The market is .50/# if you can find buyers.
Anyway the Gilroy property is just an ego ranch for someone that likes horses and hobby wine making. Limited market and limited value.
$15m is twenty times what I paid. I don’t have the horse facilities. But the value of that infrastructure is limited… certainly not worth anything near the cost. As far as the vineyard the grapes look cool but they are not a profit center.