The Land Report

SPR 2012

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 P R I N G 2 0 1 2 | The LandReport 45 LANDREPORT.COM S O U T H W E S T Briggs Freeman Sotheby's International Realty www.briggsfreeman.com (214) 353-6600 2011 Sales: < $50 Million Who: Ben Briggs founded his namesake company in 1960. Half a century later, Robbie Briggs added a Ranch & Land Division to Dallas's top real estate firm. Noteworthy: Briggs Freeman Sotheby's International Realty Ranch & Land Division hit the ground running in 2011 with over $100 million in listings. Insights: "Land is so many things to North Texans. It's an investment. It's a part of our heritage. It's a way of life we celebrate. Our team's mission is to meet, and exceed, these criteria," Robbie Briggs says. Chas. S. Middleton & Son www.chassmiddleton.com (806) 763–5331 2011 Sales: > $100 Million Who: This fourth-generation family firm deals in the sale and appraisal of ranches, farms, and feed yards. Headquartered in Lubbock with licensed brokers in Texas, Oklahoma, Kansas, New Mexico, and Colorado. Highlight: Sold the 71,000-acre Canadian River Ranch for a third time. "There's nothing better than repeat business," says Sam Middleton. Clift Land Brokers www.cliftlandbrokers.com (806) 355-9856 2011 Sales: $50-$100 Million Who: Based in Amarillo with six offices in five states. Agents with ag backgrounds specialize in farms and ranches. Standout Broker: S heldon Snyder sold the 33,871-acre Beck Ranch, which had been listed for $20 million. The duPerier Texas Land Man www.texas-landman.com (830) 796-3018 2011 Sales: > $100 Million Who: Specializes in farms and ranches, especially highly improved properties in Texas, as well as recreational and income-producing properties. Highlight: Closed 31 ranches in 2011, including a 4,600-acre Texas Hill Country property for over $40 million. Insight: "We feel positive about 2012 as Texas continues to shine in this tough econo- my," says Trip duPerier. Noteworthy: The firm's three leading brokers — duPerier, Trey Hallmark, and Michael Lindley — have 75 years of experience brokering and operating ranches. Hortenstine Ranch Co. www.hrcranch.com (214) 361-9191 2011 Sales: < $50 Million Who: Specializes in the sale of recreational properties in North Texas and Southern Oklahoma. Noteworthy: Experienced in wildlife management, land man- agement, ranch development, and wetland development. Insights: "As rain returned to the region, so did activity. We expect 2012 to be a good year on the back of the worst drought since the 1950s," says Blake Hortenstine. King Land & Water www.kinglandwater.com (432) 426-2024 2011 Sales: $50-$100 Million Who: Conservation brokerage specializes in Texas ranches. The King family has been in t he land business in the Lone Star State since the 1850s. Highlight: Sold the 20,000- acre McInnis Ranch in the Davis Mountains, which had been in the same family for over a century. Currently marketing the Rockpile Ranch. [See "Land Report Top Ten" on page 22.] Insights: "We now have a surge in energy wealth that is driving new sales, so 2012 should see a modest recovery," says James King. Mossy Oak Properties Of Texas mossyoakpropertiesoftexas.com ( 972) 771-2129 2011 Sales: < $50 Million Who: Focuses on recreational and hunting land and ranches. Sister companies offer comple- mentary services. Building a network of offices statewide. Highlight: Sold a 4,335-acre West Texas ranch listed at $11 million with a private lake large enough for water skiing. Philosophy: "There's nothing like receiving photos and stories from clients out hunting, plant- ing food plots, and enjoying the land we helped them find," says Steve Baxter. No Fences Land Company www.nofencesland.com (866) 800-5263 2011 Sales: < $50 Million Who: Focuses on marketing recreational properties in Texas and Oklahoma. Founded by Jason Pettigrew in 2005. Noteworthy: Helped well- known musicians, Fortune 500 CEOs, and the family of a Hall of Fame quarterback acquire properties in 2011. Insights: "Toward the end of the year, it was almost like someone flipped a switch and said 'It's go time.' So far, 2012 has proven to be the best start i n the history of our company," says Pettigrew. Ranch Connection www.ranchconnection.com (817) 366-3850 2011 Sales: $50-$100 Million Who: Cynthia Inman specializes in ranches, recreational land, investment, and conservation properties. Operates primarily throughout Texas but also in Arizona, New Mexico, and Central America. Highlight: Represented the buyer of a 5,000-acre ranch, listed at $53 million. Also worked with the Texas Nature Conservancy and Texas Parks & Wildlife Department on a 3,300-acre property listed for $7+ million. Insights: "If the first of 2012 is any indication, then we are in for a strong year," says Inman. "Market confidence seems to have recovered." Republic Ranches www.republicranches.com (888) 726-2481 2011 Sales: < $50 Million Who: The firm's four partners specialize in wildlife biology, irrigated farmland, lake con- struction, and wetland habitat. Offices in Dallas, Houston, and San Antonio. Noteworthy: Over $200 million in listings, ranging from top-dollar irrigated farm- land to South Texas ranches with Eagle Ford minerals. Insights: "Our clients aren't looking to make a quick profit. They're savvy investors who are cognizant of topics such as long-term capital gains rates as well as estate planning issues," Bryan Pickens says.

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