The Land Report

Summer 2015

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

Issue link: http://landreport.epubxp.com/i/522012

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88 The LandReport | S U M M E R 2 0 1 5 LANDREPORT.COM Engel & Völkers Park City www.evusa.com (760) 238-0438 2014 Sales: < $50 Million Who: Luxury European brand with a territory that includes Utah, California, and Nevada. Wow: First-year transaction volume more than $88 million. Insight: "Conditions in the real estate market have improved dramatically since the market bottomed out in 2011," says Partner Paul Benson. FarWest Sales/Mgt www.farwestrealestate.com (775) 829-2122 2014 Sales: < $50 Million Who: Specializing in ranches, land, and unique properties. Wow: Sale of 992 acres with 1.5 miles of Pacific Ocean frontage, part of a remote area known as the Lost Coast. Insight: Says Broker Pete Nevin: "I can look back and see a steady trend of agricultural, recreational, and quality land investors becoming more interested in investing in legacy-type properties, expanding their portfolios to include wise land purchases." Fay Ranches www.fayranches.com (406) 586-4001 2014 Sales: $100 - $250 Million Who: Providing brokerage and advisory services for the acquisi- tion and sale of significant land assets since 1992 with a focus on recreational land, productive farms and ranches, plus timberland and plantations. Wow: Average price per transac- tion increased by 10 percent, and sales and revenue were up 12 percent year-over-year in 2014. Insight: Partner James Esperti says, "The number of serious buy- ers continues to increase. We're busier now than we've ever been." Fuller Real Estate www.fullerwestern.com (303) 534-4822 2014 Sales: < $50 Million Who: Recognized expertise in Western ranches. Hall and Hall www.hallhall.com (406) 656-7500 2014 Sales: $250 - $500 Million Who: Wide-reaching, full- service brokerage emphasizing investment-quality real estate while also providing brokerage, auction, appraisal, mortgage loan, and management services to this market niche. Wow: Top sale was the nearly 300,000-acre Great Western Ranch, representing more than $50 million of the company's nearly $350 million in total sales. Insight: "Farms could back off a bit due to low crop prices, but past buyers and owners in general have been long-term cash players with little debt, so there will not be a lot of pressure to sell at lower prices," says Partner Jim Taylor. Harrigan Land Company www.harriganland.com (303) 908-7100 2014 Sales: $50 - $100 Million Who: Family-owned, Rocky Mountain-based experts in high-end hunting and fly-fishing properties in five Western states. Wow: Sales totally 50,000-plus deeded acres in New Mexico. Insight: According to Hunter Harrigan, "2014 was a great year for selling competitively priced recreational ranch property." Hayden Outdoors www.haydenoutdoors.com (970) 674-1990 2014 Sales: $100 - $250 Million Who: An exclusive member of LandLeader with specialties that include income-producing farms, legacy ranches, properties with hunting, fishing, and other recre- ational activities, land with min- e ral and water rights, luxury estates, and hidden retreats. Wow: Hayden set a record with more than $200 million in sales, up 40 percent from 2013. Insight: "Land is the new gold," says Partner Dax Hayden. Jackson Hole Real Estate Associates www.jhreassociates.com (888) 733-6060 2014 Sales: $50 - $100 Million Who: As the region's largest brokerage, this Christie's affiliate specializes in recreational ranches and working cattle ranches. Wow: Sold a portion of the 140- acre VandeWater Ranch for $20 million, setting a per-acre area record for non-subdivided land. Insight: "One of the strongest reasons we are seeing increasing activity in quality ranch property and land is that buyers and investors are looking at purchas- ing real estate as a much larger part of their portfolio," says Broker Richard Lewis. Jordan & Company Real Estate www.jordancorealestate.com (406) 222-1623 2014 Sales: > $50 Million Who: Experts in ranches, acreage, recreational land, and luxury home sales since 1977. Wow: The listing of a pair of legacy ranches in Paradise Valley, south of Livingston, Montana. Insight: Increased activity in higher-end ranches in 2014. Knipe Land Company www.knipeland.com (208) 345-3163 2014 Sales: $50 - $100 Million Who: A full-service real estate company specializing in farms, ranches, and agricultural proper- ties in Idaho, Montana, Nevada, Oregon, and Washington. Wow: Sold a diverse Idaho cattle r anch with more than 800 acres deeded near one of the newest ski resorts in North America. Insight: "Currently there are over 1,600 farm and ranch properties on the market in the Northwest, and in the last year over 600 ranches were sold," says Owner John Knipe. Legacy Properties West Sotheby's International Realty legacypropertieswestsir.com (970) 624-0444 2014 Sales: < $50 Million Who: Leaders in estates, ranch, and recreational properties in Colorado and New Mexico. Wow: Listed two of the largest ranches in the region: Elk Park Ranch (1,008 acres for $17.5 mil- lion) and Indian Shadow Ranch (1,769 acres for $21.75 million). Insight: "We saw a 20 percent increase in regional sales of properties over $1 million," says Founder Tom Morse. Live Water Properties www.livewaterproperties.com (307) 734-6100 2014 Sales: $100 - $250 Million Who: Innovative brokerage for investment-grade ranches with recreational and agricultural components in the Rocky Mountain West. Wow: Within six months of bringing it to the market, brokered the sale of the $20.5 million Carney Ranch featuring eight miles of the Upper Green River. Insight: "Proper pricing will remain critical as any drop in demand from lower commodities prices continues to find a balanced market with reduced- quality inventory," says President Alex Maher. A M E R I C A ' S BEST BROKERAGES

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