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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60 The LandReport | S P R I N G 2 0 1 2 LANDREPORT.COM R onald King ruled that Camp Cooley w ould not be foreclosed. Instead, he set a sale date of August 4. The fact t hat this was just 45 days later was the least of Uechtritz's worries. How do you go about interesting qualified buyers in a multimillion-dollar p roperty that is tainted by quarantine, bankruptcy, and acrimony? Uechtritz began his prep work. First, he hired Hall & Hall Auctions to conduct the actual auction. Then he began reaching out to prospective buyers. "Bernie obviously knew ranches. He knew the iconic, unique characteristics of this property. He certainly had experience with properties that were comparable in appeal to the marketplace," says Robert Albergotti, a partner at Haynes and Boone, which represented Amegy Bank. "Bernie was the one who did all the reaching out to potential buyers," Albergotti adds. "He never overpromised or under- delivered, which is a good way to run your business." By the fate-filled Thursday, Uechtritz h ad invited 22 pre-qualified buyers; that afternoon 17 made their way to the ranch. " The sale was extremely well attended," Albergotti says. "There was a lot of interest, and there were a lot of bidders there." Suddenly, everyone began looking at t heir cell phones. Bidders got up and stepped outside to take calls. Unemploy- ment numbers had driven down the Dow more than 500 points. Even worse, oil and gas prices were falling sharply. But Uechtritz had made sure that those in attendance were not fair weather buyers. In addition, he knew Camp Cooley was no ordinary opportunity. He worked the room. Only once in the previous six decades had it changed hands. As soon as the bidding started, concerns about Wall Street tailed off. Bidding on the surface rights, the royalties, and the entire ranch was spirited. From start to finish, the 2011 Deal of the Year took less than an hour to close at $28.5 million as Circle X Land & Cattle Co. prevailed. 707-455-4444 Todd Renfrew, Broker/Owner Ward Creek Ranch Plumas County – 1,514 acres $19,500,000 Dixie Valley Ranch Lassen County – 120,000 acres $19,000,000 PBM Farms Siskiyou County – 2,477 acres $7,950,000 *-,,)#5+!&)# )#.'!#*'))',+ 1!0',+0#1%1/0 #))#.*-,,)#50" 15#.'.!)#+"00)#, &'/!.#)#%!5.+!&'+0&#&#.0,$ #+0.)#4/3/ "5/ 35 $.,* $,.#!),/1.# 3&#+ #.+." #!&0.'06 !0'+% ,+ 0&# #&)$ ,$ )1/ '.(#)7/ *- ,,)#5 0" /1!!#//$1))5 *.(#0#" *- ,,)#5 '+ 0'%&0 "5 3'+",3 "#/-'0# 1+$2,. )# #!,+,*'! !,+"'0',+/ +" "#-.#//#" )+" *.(#01!0',+##.'+%/#.2'!#/-.,2'"#" 5))))1!0',+/

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