The Land Report

Spring 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.

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16 The LandReport | S P R I N G 2 0 1 5 A National Roundup of Rural Real Estate News COMPILED BY STEPHEN O'KEEFE, CFA LANDREPORT.COM G REAT LAKES $17.3M Easement to Protect 67,347 Acres in Wisconsin The state's DNR has extin- guished development rights on 100 square miles of forestland straddling the Mississippi and Great Lakes watersheds. GREAT PLAINS Waurika Farms Sells at Auction for $11M Hall & Hall Auctions sold the Drummond family's Oklahoma cattle opera- tion for $1,833 per acre, well above pre-sale estimates. SOUTH American Forest Management Buys International Forestry Consultants AFM currently manages 4.5M acres of privately owned timberland. The ac- quisition launches it into the Pacific Northwest. W EST Sporting Ranch Capital Management Debuts Jay Ellis will topline the Dallas-based private equity fund, which focuses on undervalued ranch properties across the Rocky Mountain West. SOUTHWEST Arizona Governor Vetoes Legislation Seeking Federal Lands The bill demanded Uncle Sam turn over title to 48,000 square miles of public lands. Jan Brewer respectfully declined. MIDWEST Farmland Values Continue to Climb in Seventh District The Chicago Fed reports that farmland values in this key agricultural belt continued their climb in 1Q. Complete details on pages 24-25. PACIFIC George Lucas Shelves Movie Studio Plans for Grady Ranch Despite great effort, the Marin County landowner failed to sway opponents of his studio. He saw more jobs. They saw more traffic. Everyone loses. N ORTHEAST Nantucket's Swain's Neck on Market for $59M The 1997 sale of the 68-acre estate to Russell Phelon set a New England record. Gary Winn at Maury People Sotheby's has the listing. A National Roundup of Rural Real Estate News COMPILED BY STEPHEN O'KEEFE, CFA GREAT LAKES MinWind Files for Bankruptcy in Federal Court 360 farmers and other l andowners will likely lose their investments in two small-scale wind farms in the windy southwest corner of the state. GREAT PLAINS Caterpillar Counts on Construction and Housing Diversified U.S. economy offsets decrease in energy sector demand. Analysts expect CAT to earn $4.74 a share in 2015 compared to $6.21 in 2014. SOUTH Venture Capital Pouring into Ag Tech Startups More than a quarter billion dollars funded 41 recent deals startups, in- cluding Topcon Precision Agriculture and Smart Watering Systems. WEST Thanks to Royalty Streams, Royal Gold Bucks Market Following gold's pull back f rom record 2012 highs, RGLD is down some 35%, whereas competitors are off as much as 70% (GDX) and 80% (ABX). and GDX (off 60%). SOUTHWEST Aqua America Continues to Expand into Texas Publicly traded water utility (WTR) acquires waterworks in Mansfield and increases footprint in Lone Star State to almost 200,000. MIDWEST Corn Belt Sees First Drop in Land Values Since 1986 Record corn and soybean harvests played a key role in pushing down prices. Turn to pages 28 – 29 for more on the Chicago Fed's report. PACIFIC One Year's Supply of Water Remains in California Following the driest January in history, groundwater and snowpack levels are at all- time lows, according to the NASA Jet Propulsion Laboratory/Cal Tech. NORTHEAST Rig Count Drops, But Production is Up in the Marcellus Bloomberg reports that a lthough rig count has fallen to 2009 levels, oil production was expected to increase by 290,000 barrels per day in 1Q.

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