The Land Report

Summer 2014

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.

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S U M M E R 2 0 1 4 | The LandReport 71 LANDREPORT.COM N A T I O N A L Farmers National Company www.farmersnational.com (800) 346-2650 2013 Sales: > $1 Billion Who: Provides a full line of professional services to buyers, sellers, and landowners. In addition to brokerage services offering private treaty listings, auctions, and a buyer's agency, FNC offers comprehensive farm and ranch management services, forestry management, oil and gas management, hunting leasing, appraisals, consultations, and insurance. Wow: Has over 200 agents throughout the country. Insight: "Farmers National achieved a record real estate year in 2013 with broad participation across the area by its agents," says Vice President Randy Dickhut, AFM. "Looking forward, 2014 will be a year of stabilizing land markets with continued good sales volume." Mossy Oak Properties www.mossyoakproperties.com (886) 667-2289 2013 Sales: $300 - $500 Million Who: More than 70 franchise offices in 21 states specializing in rural land for recreational or investment purposes. Wow: In 2013, the Mississippi- based firm opened its first office in Wyoming and its third office in Alaska. Insight: "Last year was the strongest our network has experienced in its 10-year history," says CEO Chris Hawley. "Our growth is attributed not only to a growing footprint with top brokerages but a strong land market." United Country Real Estate www.unitedcountry.com (800) 999-1020 2013 Sales: > $1 Billion Who: Largest fully integrated network of conventional and auction land real estate profes- sionals in the U.S. and Latin America. Specializing in ranches, recreational land, and farmland. Supports nearly 500 offices across the U.S., Costa Rica, Panama, and Mexico. Wow: Ranch and recreational land sales increased over 23 percent in dollar sales value for United Country nationwide in 2013. Insight: "For 2014, we remain optimistic across all land categories," says President Mike Duffy. "Farm prices have proven strong and stable as a large pro- portion of owners are beginning to retire (supplying inventory to the marketplace). Conversely, drought is affecting some key farm areas, reducing total supply. Commodity demand remains high, driven by worldwide population growth, and higher commodity prices over the last few years have provided significant investment capital. Overall, productivity continues to increase. For ranchland, we see continued strong growth as ranch prices have come back in line and pent-up supply from recent years has provided a healthy inventory of ranch property. And like recreational land, buyers are in better financial condition today versus the last few years. That fact, combined with very favorable interest rates and more available capital, will continue to drive the ranch and recreational markets." T I M B E R AFM Land Sales www.afmlandsales.com (704) 527-6780 2013 Sales: $200 - $300 Million Who: Specializing in the brokerage, acquisition, and analy- sis of timberland, recreational properties, farmland, hunting plantations, and conservation properties. Operates in timber- land investment regions from the Pacific Northwest to the Appalachians. Wow: Closed five sales larger than 10,000 acres in size, as well as a 20 percent increase in sales over 2012. Insight: "We feel the market will be very active in 2014," Tom Margo says. "The market continues to demonstrate that there remains a strong interest from investors looking to land as a stable vehicle to diversify their investment portfolio." American Timberlands Co. www.americantimberlands.com (843) 979-2221 2013 Sales: < $50 Million Who: With over 20 years of experience throughout the South, American Timberlands Company caters to clients ranging from large institutional investors to individual owners. Specializes in timberland, recreational and hunting properties, farmland, and plantations. Wow: American Timberlands Fund II, a Southeastern-based timberland investment fund managed by American Timberlands Company, achieved a 24.21 percent return for the 2013 fiscal year. This return far JIM AND ANNE MITCHELL PHOTOGRAPHY exceeded the 9.35% return of the NCREIF Timberland Index. Insight: " We believe 2014 will show improving timberland market conditions and prices," says CEO Tom Rowland. "Additionally, we see a long-term trend for retail investors moving away from public markets and into alternative investments as a tailwind for the land and timberland market." Forestar Group www.forestargroup.com (512) 433-5200 2013 Sales: < $50 Million Who: Owns 130,000 acres in 10 states and 14 markets, and specializes in investment, recreation, transitional, and timberlands. Insight: "Demand for our timberland asset has improved," says SVP Jeff Portwood. LandVest www.landvest.com (617) 723-1800 2013 Sales: $200 - $300 Million Who: "Our brokerage business manages the disposition, planning, and marketing of investment-grade timberland properties on behalf of (and to) institutional investors and high- net-worth families. We specialize in the largest and most complex properties which offer ancillary values and uses, in addition to the core timber operating potential," says Joseph Taggart of the LandVest Institutional Advisory Group. Wow: $29 million sale of the Hoko River Tree Farm in Clallam County, Washington. Insight: Says Taggart, "The timberland market has improved dramatically over the past 12 months. Robust pricing has returned to the asset with demand and available capital far outstripping available inventory." 70-88 [2014.2] Best Brokers_Layout 1 5/24/14 2:50 PM Page 71

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