The Land Report

Winter 2017

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 | W I N T E R 2 0 1 7 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 Iron Ore Producer MSB Get a Lift From Global Expansion William O'Neil + Co. g ives Mesabi Trust its highest rating for sales, margins, and return on equity. Look closer at this potential buy. GREAT PLAINS Farmland Prices Enjoy Stability Not Seen in Decades Corn Belt farmland values have neither increased nor decreased more than 1% over past four quarters. Such relative stability has not occurred since 1970. SOUTH Florida Orange Crop Gets Crushed Start with citrus greening. Add Hurricane Irma. Then mix in changing consumer tastes. The result is the smallest harvest by Florida citrus growers since 1947, spec., 58.2 million boxes. WEST Time to Lock In Profits on Vail Resorts? We touted Colorado- b ased Vail Resorts this spring when MTN traded at $120. The stock has since doubled and is getting pricey at 46X. SOUTHWEST Viper Energy Beats the Street VNOM has mineral interests on 46,000 acres in the Permian Basin. The company earned 44 cents per share last year, and analysts expect that to double in 2017. MIDWEST Deere Execs Take Profits, Sell Shares DE achieved our $130 price target, and insiders have locked in profits and sold shares. Not a single insider has bought shares over the last 90 days. PACIFIC Potlatch and Deltic Timber to Combine in All-Stock Deal The new company, PotlatchDeltic, will own almost 2 million acres: 1.1 million in the South, 600,000 in Idaho, and 150,000 in Minnesota. NORTHEAST Interior Department Supports Logging in Katahdin Woods Bangor Daily News r eports that Interior Secretary Zinke recom- mends opening Maine's national monument to commercial forestry. WALL STREET BULL © STUART MONK / SHUTTERSTOCK.COM

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