Land Report January 2012 Newsletter

Here’s a great way to start your year: the January edition of The Land Report newsletter.

This issue is chock full of stories and links to essential resources, including the Winter 2011 issue of The Land Report and of course January’s Land Report Top Ten.

As you might imagine, December wrapped up with a slew of end-of-the-year closings, and several key ones are detailed in the January newsletter, including the sale of Montana’s Horse Ranch and the sealed-bid auction of the Robert Mondavi Estate in Napa.

For more up to the minute reports on listings, auctions, sales, and breaking news pertaining to land and landowners, be sure to follow The Magazine of the American Landowner on Facebook and Twitter.

P.S. Our award-winning quarterly magazine is available in a print version via subscription.

Sold! Montana’s Historic Horse Ranch

Nestled in the rolling hills of Central Montana, the historic Horse Ranch sold in December 2011. According to listing broker Mike Swan of Bates Sanders Swan Land Company, the ranch is “a rare combination of privacy, beauty, and scale in a contiguous block of deeded acreage that is very difficult to find in today’s western land market.”

Ryan Flair of Fay Ranches represented the buyer. The initial owners, a prominent Fergus County family,  began assembling this magnificent property in the 1880s to supply remount horses for the U.S. Cavalry.  The new—and only the third—owner of the Horse Ranch looks forward to continuing the land stewardship of these two preceding Western pioneers.

Comprised of 25,323± acres, this ranch contains sufficient hay meadows and summer pasture to comfortably run 700 to 750 head of brood cows on a year-round basis plus a full complement of heifers and bulls. The deep timbered draws and grassy plateaus on this property also provide prime habitat for the resident elk herds, trophy mule deer, antelope, wild turkey and upland game birds, including sharp-tailed grouse, pheasant and sage grouse.

Financial terms of the sale were not disclosed.

 

 

The Land Report Winter 2011

As everyone knows, T. Boone Pickens has had an immeasurable impact on the way America does business. From his pioneering role as a shareholders’ rights advocate to his legendary renown in the energy industry, Pickens always has a plan.

Readers of the current issue of The Land Report will learn how the Oklahoma native has applied this same goal-oriented approach to revitalizing his beloved Mesa Vista Ranch. It wasn’t too long ago that the 68,000 acres he currently owns in the Texas Panhandle was essentially overgrazed cattle country. But with keen foresight and plenty of stewardship, he was able to nurture and develop a quail hunting property that is without peer nationwide.

Enjoy this issue’s cover story: a tour of the Mesa Vista Ranch featuring text by Ray Sasser as well as breathtaking photography by the State Photographer of Texas, Wyman Meinzer.

In addition to this Land Report exclusive, the winter issue also includes an opportunity to review The Land Report Top Ten, featuring the nation’s leading listings. Another must-read article is the story of Taylor’s Trees, which many have already perused at Land Report.com.

Click HERE to access the digital version of the issue online or type in the following URL: http://tinyurl.com/864drcz

Land Report Top 10: Aspen Valley Ranch

Situated in the picturesque valley just outside of Aspen, the Aspen Valley Ranch is the last working ranch in the area that reflects the mountain heritage of the West.

At 813 acres, this prestigious family legacy ranch is a rare offering in Woody Creek, Colorado. With its unique traits of both a historic, working ranch and a luxurious recreational getaway, this property features senior water rights, irrigated pastures, and a new 10-stall horse barn. Additionally, its proximity to public lands, trails, wildlife, the Roaring Fork River, and a handful of Aspen ski areas provides ample recreational opportunities.

Aspen Valley Ranch is listed with Joshua & Co. For more information, contact Joshua Saslove at (970) 948-3876 or joshua@joshuaco.com.

Click here to see the full list of Land Report’s Top 10 priciest properties.

Land Report Top 10: Jackson Land and Cattle Ranch

Jackson Land and Cattle Ranch is a remarkably beautiful 1,750± acre ranch literally on the edge of the town of Jackson, Wyoming. Known as the premier resort community in the Rocky Mountain West, Jackson Land and Cattle Ranch takes full advantage of the most magnificent views for which the area is so famous. This is arguably Jackson’s most desirable ranch that remains essentially unencumbered by development restrictions.

This ranch is the finest offering available in arguably the nicest resort communities in the country. Its world-class cutting horse and cattle operation is situated in the most remarkable setting one could ever hope to find. Large productive hay meadows and pastures span the valley floor and give way to hills and mountains covered by large aspen groves and dense green timber slopes that provide exceptional habitat to the abundant wildlife. Three large trout-filled ponds have been developed close to the equestrian center and a beautiful spring creek meanders down through the valley. The backdrop is the famous Teton Range with its centerpiece, the Grand, in full view from the ranch.

Jackson Land and Cattle Ranch is listed with Hall and Hall. For more information, contact John Pierce at (307) 733-0989 or via email at pierce@hallandhall.com.

Click here to see the full list of Land Report’s Top Ten priciest properties.

Land Report Top Ten: November 2011

From Hawaii to the Lone Star State, here are America’s priciest properties, led by $175 million Jackson Land and Cattle Ranch, pictured here, which is listed by Hall and Hall.

1. Jackson Land and Cattle: $175 million

These 1,750 acres are simply the most phenomenal property to come to the market in the Teton Valley in decades. Jackson Land and Cattle is one-of-a-kind in every respect: world-class improvements, including an equestrian center designed by Jonathan Foote, AIA; lack of any development restrictions; and don’t forget the stunning Teton views. Hall and Hall’s John Pierce has the listing.

2. Walton Ranch: $100 million

This 1,848-acre working cattle ranch was pieced together by the Walton family beginning in 1958. The family placed the ranch under conservation easement in 1983. Billy Long and Ron Morris of Ranch Marketing Associates have the listing.

3. Ranch Dos Pueblos: $84 million

This oceanfront parcel is on the market for the first time in three decades. Spanning 2,175 acres just west of Santa Barbara, it’s one of the largest remaining ranches along the breathtaking Gaviota Coast. Kerry Mormann & Associates has the listing.

4. Tranquility Estate: $75 million

These 210 acres on Lake Tahoe are crowned by a 20,000 square-foot mansion. Owned by Tommy Hilfiger co-founder Joel Horowitz, it was originally priced at $100 million in 2006. Listed by Shari Chase and Sue Lowe of Chase International.

5. Aspen Valley Ranch: $59 million

Billed as the largest ranch near Aspen in the Roaring Fork Valley, this ranch boasts senior water rights as well as over 800 acres and is located just 10 minutes from the Aspen airport. Joshua Saslove of Joshua & Co. has the listing.

6. Robert Taylor Ranch: $56 million

112 acres in Los Angeles’s tony Brentwood enclave. The roomy ranch house, which was designed by Robert Byrd, features 17 bedrooms and 17 bathrooms. Joyce Rey of Coldwell Banker Previews International has the listing.

7. Hana Ranch: $55 million
This 4,500-acre working ranch on eastern Maui surrounds the town of Hana. The property boasts two miles of Pacific oceanfront and rises over 2,200 feet up the slopes of Haleakala. Dan Omer of Island Sotheby’s International Realty has the listing.

8. Rockpile Ranch: $54 million

For only the third time in over a century, this 55,374-acre cattle ranch in the Davis Mountains of Far West Texas is on the market. Since 1992, the Rockpile has been owned by McCoy Remme Ranches (No. 41 on the 2011 Land Report 100). James King of King Land and Water is the listing agent.

9. Dana Ranch: $45 million

With only two distinguished owners in nearly 100 years and an unmatched record of profitability, the Dana is considered by many to be the finest operating and recreational ranch in the Rocky Mountain West. Supporting 3,000 animal units on 59,000± acres, it boasts over 13 miles of superb fisheries and an incredible diversity of wildlife resources from elk to waterfowl to upland birds. Listed by Dave Johnson with Hall and Hall.

10. Flying Dog Ranch: $40 million

This 245-acre Aspen landmark features nearly a mile of Collins Creek and Woody Creek and borders the White River National Forest. Morris & Fyrwald Sotheby’s International Realty has the listing.

Click here to download a copy of the November 2011 newsletter.

Land Report November 2011 Newsletter

Take a moment to scan the November edition of The Land Report newsletter. You’ll be amazed at the amount of activity going on in land markets currently.

Impending auctions of key parcels, record-setting new listings, fire-sale prices on bankrupt holdings – the number of transactions taking place in all sectors is quite encouraging and, as you will soon read, in all parts of the country.

For more up to the minute reports on listings, auctions, sales, and breaking news pertaining to land and landowners, be sure to follow The Magazine of the American Landowner on Facebook and Twitter.

P.S. Our award-winning quarterly magazine is available in a print version via subscription.

Trail Boss – The Bob Funk Story

The name says it all: The Big Event. Those who have never had the good fortune to set foot in the Express Ranches Sale Barn have no inkling of the beehive buzzing under the big top. In one corner, eager servers tote trays of tri-tip, biscuits, and brownies to buffet tables where more than 400 will break bread in the next 90 minutes. At the shoeshine stand, cattlemen and their brides queue up two and three deep to have their boots given that like-new look. Lording over the entire affair, auctioneer Eddie Sims barks out bids as the price of a half-interest in an Angus cow and her calf soars past $100,000.

Arms folded, eyes twinkling, Bob Funk sits in the middle of this extravaganza. Garbed in true cowman style, Funk’s distinguishing trait is actually his smile. Could it be because he’s chatting with his girlfriend and his son? Or is his contagious grin because friends have flown in from across the country? Then again, there’s a pretty good chance that Funk’s smile might be directly tied to the sound of Sims’s gavel, which just came down at $195,000.

At first glance, Funk’s credentials stand out as boardroom caliber, not the sales-barn sort. As the chairman and the chief executive officer of Express Employment Professionals, Funk oversees a thriving organization with more than 550 offices in four countries and projected revenues in excess of $2 billion this year.

The largest privately-held staffing company in the U.S., Express Employment is a heavyweight in the human resource industry. Unlike many of its competitors, Express Employment has gained market share during the economic uncertainties of the Great Recession. Through the second quarter of 2011, Express has seen double-digit growth for six consecutive quarters. Since 2009, the Oklahoma City company has nearly doubled in size. Sales are up a robust 92 percent.

Given this track record, it’s no surprise that the number of boards that vie for Funk’s time and support is mind boggling. Churches, schools, and even Uncle Sam have come calling. Funk was chosen as a director of the Tenth Federal Reserve District, the seven-state region that anchors the heart of the Great Plains. Initially appointed to the Oklahoma City branch, he then joined the board of directors of the Kansas City Fed, was chosen chairman, re-elected chairman, and, in 2007, selected as the chairman of the Federal Reserve’s Conference of Chairmen. Funk advised the Board of Governors of the Federal Reserve System, including former Fed chair Alan Greenspan and current chair Ben Bernanke. “Don’t go telling too many people that. They might hold it against me,” he says and bursts out laughing.

Yet the truth is Funk is equally at home on the range or behind a desk. For that matter, he can hold his own on the altar as well. Few people realize that this civic leader, this rancher and cowman is also an ordained minister who earned undergraduate and graduate degrees in theology from Seattle Pacific University while studying business. His broad range of interests is fueled by a level of energy that can best be described as boundless.

During a three-month span this summer, the 71-year-old journeyed to Italy to officiate at the wedding of a close friend, traveled to Scotland to dine with Prince Philip, landed not one but two hundred-pound halibut off Canada’s Queen Charlotte Islands, and escorted the Duke and the Duchess of Cambridge to the Calgary Stampede aboard an Express Ranches stagecoach that was drawn by four of his champion black-and-white Clydesdales.

The secret of his success? No matter the venue, Funk applies the lessons he learned from those he loved growing up on the land. These building blocks have led to a series of successes he readily admits he could never have imagined. They have allowed him to make countless acts of generosity. Most of all, they have given him a mission, one he pursues day in and day out: Bob Funk believes it is absolutely essential to instill those same lessons in the hearts and the minds of youngsters growing up today.

So it’s safe to assume that Funk grew up enjoying the many activities he endeavors to share with kids across Oklahoma, right? Think again.

“We were very poor at home,” says Bob’s older sister, Joanne Benton. “Bob didn’t get to go and participate in county fairs like most kids we knew growing up. He was too busy working for Adolph.”

The mere mention of this older cousin’s name puts a smile on Funk’s face. This tough taskmaster was the wellspring of Funk’s ferocious work ethic. In his barns and on his fields, Funk learned leadership tenets that would build a multi-billion-dollar company.

“Adolph Hanish started at 6:00 a.m. and finished milking 60 cows at midnight every night, seven days a week. And he didn’t think that was working too hard. He loved his cows. They were his life. Adolph taught me a good work ethic. So did Dad. Dad just loved to work. He loved the land. He loved his cattle. My dad worked cows at all times, even after he went broke in the dairy business. He spent more money on his cattle than he should have: the best hay, the best grain. After he went to work for the highway department, he still kept some cows. He’d go milk four cows by hand every morning, start his job at 8:00, finish at 4:30, and milk cows until 7:00 every night. And that was just standard for our family. Dad was a hard worker. He was a wonderful man,” Funk says.

The formative influence of these hardworking men had some unexpected consequences, namely, cheap shots from childhood friends. “Some of our cousins used to call Bob ‘nothing but a dumb farm boy,’” says his sister. “They would make fun of him for working so hard for Adolph.”

There are two sides to this anecdote, and they reveal the mettle of the man. Ask Bob Funk about his cousins’ taunts and he dismisses the personal discomfort that every adolescent endures. Instead, he speaks of the journey of a fellow human being.

“Adolph was a single man who never took a day off. His whole life was his cows. When I started working for him, he had gone 17 years without a day off. The Fourth of July, Thanksgiving, Christmas — he worked holidays, he worked when he was sick, he worked no matter what. I was glad to give him a break,” Funk says.

Ask his sister, however, and another side to her younger brother emerges. “Those boys couldn’t have known it, but what they were doing was challenging Bob. They challenged him to make something of himself, and he sure did,” Joanne says.

For some inexplicable reason, cousins have shaped Funk’s life. Hanish, his father’s cousin, helped mold the young boy into manhood. Decades later, one of his mother’s cousins opened a new chapter in his life by steering him out west.

Most Americans know Ed Pease for his service as an Indiana Congressman. But in Northern New Mexico, the Eagle Scout is known for his service at the legendary Philmont Scout Ranch. The 137,000-acre ranch is nestled in the Sangre de Cristo Mountains, the heart of the historic Maxwell Land Grant (see “Lucien Maxwell,” Land Report Fall 2008). The grant’s 1.7 million acres had been divvied up into a series of enormous ranches, and some 300,000 acres were acquired by legendary Oklahoma oilman Waite Phillips. It was his bequest that created the Scout Ranch.

In 1996, Pease learned that a key inholding was about to change hands. “Word got out that the Atmore Ranch was going to be sold and then cut up into 20-acre parcels. I support a landholder’s rights to do what they see fit with their property, but the idea of walking through a subdivision to get to the biggest mountain on Philmont ruins the concept of hiking through the wilderness, doesn’t it?” Pease asks.

Pease knew the clock was ticking. “In all the time I’ve known Bob, I never ever asked him to do anything financial. But this time I had to. I called him and made the pitch. Bob had never been a Scout as a kid. Growing up he was too busy working to have time to be a Scout. There was no reason for him to buy this ranch. But he knew what it would mean to generations of Scouts to come, so he went ahead and bought it,” Pease says.

Ten years after acquiring the Atmore, Funk expanded his New Mexico holdings when he bought from Brad Kelley the portion of Philmont that Waite Phillips kept for himself. Called the UU Bar Ranch, it is a Rocky Mountain paradise that rises from the high-desert rangeland at 6,000 feet to more than 11,000 feet above sea level in the Sangre de Cristos.

“The UU Bar is more like a state than a ranch,” says former Oklahoma Governor Frank Keating. “You have those alpine meadows, the beautiful forests, the abundant wildlife. It’s absolutely a colorful affirmation of the beauty of America, a spectacular picture-postcard ranch.”

Keating’s wife, Cathy, concurs. Like her husband, Oklahoma’s former First Lady has been a regular at the UU Bar since before Funk bought it.

“We’ve been elk hunting with Bob every year since he bought the Atmore. There’s really just nothing quite like that country out there. It’s just a very special place. You’re in God’s country. I love those moments at the UU Bar – the early morning breakfasts at the lodge that Ralph [Knighton] prepares, driving up to the meadows and waiting for the bugling to start. Then you hear the bugling and the thrill of the chase. I really don’t care if I shoot or not,” she says.

As memorable as a visit to the UU Bar may be, the vast property is an integral element of the Express Ranches portfolio. This multifaceted beef production entity is driven by one goal: better cattle. On a trip to New Mexico, Funk points out that yearling bulls are conditioned on the UU Bar before being taken back to Yukon and sold.

“Jarold likes to tell me we beta test our genetics at the UU Bar,” Funk says, referring to Jarold Callahan, president of Express Ranches. The two teamed up in the mid-1990s when Funk negotiated the purchase of the B&L Ranch and the B&L Angus cow herd near Shawnee from the Oklahoma Cattlemen’s Association Foundation. Up till then, Funk had focused primarily on Limousin cattle. With the purchase of the B&L, Angus cattle became the driver in the expansion of the Express Ranches brand and Callahan was put in charge. “I told Jarold, ‘You sold me these suckers. You come and make them pay,’” Funk says. And that’s exactly what those black-faced cattle have done. According to National Cattleman, Express Ranches is the nation’s largest seedstock operation. Judging from the strong sales numbers at this year’s Big Event, that ranking is safe and secure.

So what does this mean to Bob Funk? It goes without saying that there’s a sense of accomplishment. Back in 1996, he, Callahan, and their team set out to become No. 1, and they’ve done exactly that. It’s the same exact approach that Funk has taken at Express Employment Professionals: putting a team together, setting a high bar, and doggedly pursuing that goal. In three or four years, Express Pros will also be No. 1, Funk tells me.

Bob Funk Jr. is also drawn to the rhythm of the cattle business. His day job may be president of the Oklahoma City Barons, but in the back of his mind are lessons he learned years ago.

Like his father, he insists those lessons be shared. Both men are passionate supporters of the Oklahoma Youth Expo. The organization’s director, Jeremy Rich, tells me that thanks to the Funks, the Expo has gone from near extinction in 2001 to the largest junior livestock show in the nation. I think I know why.

“Growing up in Piedmont, I actually enjoyed working cattle,” Bob Funk Jr. tells me. “Dad used to take me out to feed. It was a hobby, for him and for us, getting up and going to feed the cattle in the morning. It was always fun. It never seemed like work. The best part was really just spending time with Dad.”

 

Larry Ellison Expands Lake Tahoe Holdings

Larry Ellison, a man who “views prime real estate as scare commodity that can’t easily be replicated,” is expanding his holdings in the Lake Tahoe area, a region well known for its pristine waters and world-class skiing.

Regarded as one of the country’s largest consumers of trophy real estate, Mr. Ellison is the third-richest American with a net worth of $33 billion according to Forbes. Since the mid-1990s, Mr. Ellison has amassed hundreds of millions of dollars worth of top-shelf properties around the world, including five adjacent lots in Malibu; a mansion formerly owned by the Astor family in Newport; a historic garden property in Kyoto, Japan; and a 249-acre estate in Rancho Mirage that includes a private 19-hole golf course.

Once Mr. Ellison finds an area he likes, he will typically purchase multiple properties that are adjacent to one another and then combine them into a single, sprawling compound. He also purchases other lots nearby to increase his total holdings in a specific area.

According to public records, Mr. Ellison began purchasing in the Lake Tahoe area in 2006 and since then has created three noncontiguous lakefront parcels in eight separate deals.

Click HERE to read the full article in the Wall Street Journal

Trend Watch: Income-Producing Properties

Check out this informative video from ranch brokers Ken Mirr and Jeff Hubbard of Mirr Ranch Group.

Ranch brokers Ken Mirr and Jeff Hubbard discuss the increase in demand they are seeing for income-producing properties for sale. These ranch experts suggest that this type of ranch, coupled with recreational values, makes for a truly special property. Thunder Ranch, a Utah ranch for sale, is used as an example.

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