Hall and Hall Year in Review - 2021

2021

HALL AND HALL 2021 ANNUAL REPORT

YEAR IN REVIEW

DEDICATED TO LAND AND LANDOWNERS SINCE 1946

HALLANDHALL.COM (888) 557-3090 | info@hallandhall.com

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2021 BEYOND

A CONVERGENCE OF FORCES

EXTRAORDINARY

WE PARTICIPATED IN: Exclusive Listings Represented Buyers Private Offerings Confidential Sales Sealed Bids For Sale By Owner Referrals Multi-State Auctions Online Auctions

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IN SHORT: We did it all Every Agency Type Every Property Type Every Seller Type Every Buyer Type All year long ...

2021 ANNUAL REPORT | HALL AND HALL

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To Our Landowners, Prospective Landowners, and Valued Friends:

hen reflecting on the last year, two critical questions emerge: “What just happened?” and “How long will it last?” The latter half of 2020 and all of 2021 have been the strongest real estate market that any of us have experienced. A convergence of forces – medical, social, cultural, political, financial, and climatic – have fueled the market. Buyers sought financial and personal security in land as a hedge against inflation and as a haven for their families. The need to work remotely provided an opportunity to retreat to rural locations. Drought induced fires and water shortages in the West accelerated deurbanization in the region. Landowners considering selling elected to capitalize on the market and mitigate future tax risk. Drought conditions and suppressed commodity markets pressured agricultural producers.

We think many of these trends will continue in 2022 and beyond. As volatility increases in other areas, the stability of land ownership becomes more attractive. All of our regional markets are experiencing limited supply. The long term personal and financial rewards of land ownership have gained more recognition than ever over the last 18 months, bringing new buyers to a supply-constrained market.

Although the land market will not always be this active and liquidity expectations should be tempered by historical norms, it is these very basic economic forces that will continue to drive the land market over the long term.

What did Hall and Hall do in 2021 to adapt to the rapidly changing land market? First, like many of our clients, we got younger. For over a decade we have pondered who would replace the baby boom generation of landowners.

Now we are seeing the next generation of landowners enter the market in a big way and often for different reasons. Mirroring the shift in customer demographics, the average age of our real estate partners added in the last two years is 40, for our support staff it is 34, and for our lending and management team it is 40. The experience and relationships of Hall and Hall’s senior members combined with the technological, marketing, and communication skills of our thriving new members is a winning combination.

Another adaptation has been the refinement of our private marketing program. In response to clients desire for privacy and anonymity, Hall and Hall increasingly has conducted a significant percentage of business through

private channels. Limited supply and high buyer demand have been conducive to private offerings that were marketed to a targeted audience, creating a competitive buying environment while still maintaining confidentiality for both buyers and sellers.

Our private offering program is not the best strategy for most properties, but it can be an effective tool for certain individuals or properties under the right circumstances. As a prospective buyer, these private offerings can be a significant source of inventory for consideration.

2021 also clearly demonstrated the value of our ownership and shared compensation structures. Every individual at Hall and Hall has an opportunity to have a seat at the table and to share in each other’s success. The concept of a mutually vested team of professionals focused on client satisfaction across all departments is customer driven with a longterm perspective. Our culture is the single most contributing factor to outstanding client results and generational relationships.

In 2022, we will continue to strive to provide the very best local expertise with a national and international reach. We will continue to expand our strategic resources and options for our customers so that we obtain the best results. Using advancements in technology, marketing, and a collaborative approach, we will continue to act as trusted advisors with an eye toward the future. We are deeply grateful for your support and we are dedicated to serving tomorrow’s landowners.

Hall and Hall

PICTURE IT

NEXT GEN

BO LANDOWNERS

RN POST 1970 The faces will change. People connecting one-on-one with the land won’t.

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2021 ANNUAL REPORT | HALL AND HALL

Hall and Hall Evolves To Serve The Upcoming Age Feeling the shift, riding the incoming wave, fulfilling new needs, restoring connections, shrinking global outlooks to local microcosms.

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HISTORICALLY, THE RURAL LAND MARKET HAS BEEN DRIVEN BY PEOPLE WITH SOME TIE TO LAND, WHETHER REAL OR IMAGINED. his could mean growing up on a farm or ranch, hunting and fishing, or having a business tie to land, such as the oil and gas industry. It could also be simply having grown up watching westerns and being romanced by wide open spaces on the big screen. As the Baby Boomer population group advances through their life cycle of earning, accumulating, and then divesting themselves of assets, their impact on the land market has changed with each stage.

Now population dynamics have shifted so that Gen-Xers and Millennials outnumber Baby Boomers. With advents in technology new careers, recreation, and entertainment options have emerged. The percentage of people in these younger age groups with personal or business ties to land has diminished. The question we have been asking ourselves is, “Will these population groups value land ownership at some point in their lives, and if so, when, and why?”

Last year marked the first year that we experienced a dramatic and notable entry into the rural land market by these younger, “next” generations. The impact of new landowners in the 40 year-old range in 2021 was significant. Interestingly, the reasons for investing and the priorities of these buyers and investors have changed.

Recreational interests have expanded beyond the traditional outdoor pursuits of hunting and fishing. Internet connectivity has become an essential part of daily life.

“Checking out” is measured in minutes or hours rather than days or weeks. The ability for family and friends to gather and be entertained is paramount, which requires an array of on-site and nearby options.

There is far greater awareness of food origin and quality. Many people want to harvest and process their own food. These

interests are bringing people, who had no historical connection to agriculture, to the raising of crops and livestock and to farming and ranching communities.

Climate awareness is top of mind of this new generation — and maybe more so than food awareness. Many people who have no previous ties to agriculture are very interested in sustainability, soil health, and carbon capture. These advances in agriculture have fueled interest in farms and ranches because of the opportunities that exist with farm and livestock production. The opportunities are environmental (making a positive impact on food, climate, and health) and financial (opportunities for carbon capture credits, offsets, or payments). Today, fulltime farmers and ranchers are not the only ones thinking about farm and ranch operations. Many new to land ownership as well as existing landowners are thinking about ways to manage property to take advantage of these opportunities and increase both social and environmental returns.

We see this new entry into the land market as positive for the industry and positive for investors. Interests and practices will evolve and adapt. But the finite quality of land remains. As the world population grows, the value of scarce land resources grows with it.

(888) 557-3090 | info@hallandhall.com

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DIFFERENT BY DESIGN A BETTER MODEL: HALL AND HALL’S PARTNERSHIP STRUCTURE

Built on a tradition of trust, relationships, performance and making people our greatest asset.

&WHY

HOW

It Works

Our brokerage partnership structure is unique in the real estate industry and is the single biggest differentiating factor between Hall and Hall and our competitors.

Understanding how and why this structure benefits you as a buyer or seller is important.

From an agency standpoint, Hall and Hall operates according to individual state regulations just as other competing firms do. Buyer agency, seller agency, and customer relationships are concepts that are common to all states. If you list your property with Hall and Hall, the listing broker will act as your exclusive agent. Strict firewalls are maintained internally so that your personal information is only shared with your exclusive agent.

Another Hall and Hall licensed broker may represent a buyer and act exclusively on his or her behalf, just as an agent from an outside firm may represent a buyer and act on that buyer’s behalf.

As a buyer, you may choose to have an exclusive buyer agency relationship with a Hall and Hall broker and that broker can represent you on other firms’ listings or Hall and Hall’s listings, as long as your buyer agent is not also the listing agent. If your buyer agent does happen to be the listing broker for a property in which you are interested, then another Hall and Hall broker can be “designated” as your exclusive buyer broker, and you will receive exclusive representation throughout the process. It is likely that you will come to meet more than one Hall and Hall broker through the property search process, so this transition is usually seamless.

HOW ARE WE DIFFERENT?

At most real estate firms, income depends upon how many properties each individual agent lists and sells. Often, agents are not only in competition with agents in other firms but are also in competition with other agents within their own firm. At Hall and Hall all of our brokers are partners. Their incomes depend on the collective success of the entire team rather than individual success. There is a strong financial incentive to collaborate. This structure removes the financial barriers that exist between agents in traditional real estate firms and creates a synergy that is not found elsewhere in the industry.

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2021 ANNUAL REPORT | HALL AND HALL

HOW DO YOU BENEFIT? BUYER BENEFITS

IF YOU ARE A BUYER, our goal is to align you with the partner best suited to represent you while at the same time making the specific expertise of each partner available to you if/when needed.

The selection of the partner best suited to you may be based on geography, familiarity with a certain market or type of property, or personality. Whatever the criteria, we want you to be matched with the partner who can best serve your needs, because we all benefit. At the same time, every partner is ready and willing to support the partner with whom you are working with any specialized knowledge or expertise that could be of value to your situation. Perhaps you are looking for property across multiple states or have interest in a property with a unique water or mineral right situation. Our partners willingly share their years of knowledge and expertise with one another.

SELLER BENEFITS

IF YOU ARE A SELLER, our goal is similar.

Commonly, several partners will attend an initial tour of your property. If you don’t already have an existing relationship at Hall and Hall, then that meeting becomes an opportunity for you to determine who is the best fit as your listing broker.

Often sellers will easily identify who among the Hall and Hall partners best relates to their situation and who “gets” their property and who “clicks” with them. Just as with a buyer relationship, Hall and Hall partners are eager to support your listing broker with any relevant specialized knowledge or expertise they have. For example, we frequently have multiple partners work together to gather top notch marketing material, including some partners who are exceptional in the field of photography and videography. You benefit by receiving the best marketing product and by having more Hall and Hall partners who are intimately familiar with your property.

That type of collaboration exists because of our model and the model encourages and rewards it.

PULLING IN THE SAME DIRECTION

The positive impact of having a team of professionals with common goals and a genuine financial stake in achieving those goals cannot be overstated. As a client, your satisfaction is our top priority. That’s not just lip service, it’s a financial reality. This team culture is only possible because of the organizational and compensation structures in place. In addition to our broker partnership, we have an employee-owned company structure that extends across all positions and all business lines. So, the marketing team or transaction support personnel who are working on your behalf are financially vested in your satisfaction as a client. The same can be said for our Auction, Land Management, Lending, and Appraisal divisions.

We hear our competitors say that brokers in our partnership structure aren’t as financially motivated to work as hard as an individual agent who reaps all the rewards from a purchase or sale. Our 75-year track record of leadership in the industry demonstrates that this is not the case. We have found that the right people are far more motivated by being an integral part of a team than they would be working solely for their individual benefit. If you are a team player, letting down the team is not an option. The people we invite to join us are successful, experienced, ambitious, and excel in our client-focused, team environment.

AFTER 3 GENERATIONS - TRIED, TESTED AND READY FOR THE NEXT 3.

It is with tremendous gratitude that we reflect on 75 years of service to landowners.

There have been many changes over this time, yet the principles of land ownership, investment, and stewardship have remained the same. The tangible, dynamic, and lasting nature of land shapes the values of those who are tied to it. Made up of farmers, ranchers, hunting and fishing enthusiasts, conservationists, and many others, landowners represent a broad community of interests embodied by hard work, honesty, integrity, and generational thinking. It is a privilege to be a member of this community and to share a passion for the land and our precious natural resources.

Thank you to everyone who has made the past 75 years possible. We look forward to all that the future holds and being of service to the next generation of landowners.

(888) 557-3090 | info@hallandhall.com

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ARROWSMITH NIOBRARA RIVER RANCH | BASSETT, NE

Plains/Midwest

PLAINS/MIDWEST SALES

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TODD COUNTY IRRIGATED ORGANIC FARM - MISSION, SD

DUCK BAR RANCH - VALENTINE, NE

Todd County Irrigated Organic Farm is located in south central South Dakota and consists of 480± acres, of which 390± are irrigated. The farm has three, 2014 Valley pivots and electric pumps. The topography, soils, and unlimited pumping lead to an excellent income producing property already certified organic.

The historic Duck Bar Ranch is comprised of 7,005± acres located in the Nebraska Sandhills and features over 6-miles of Gordon Creek. The ranch boasts a carrying capacity of 400 cows with supporting livestock. The ranch shows extreme ownership pride with excellent water, tight fences and great range condition.

Listing Price: $2,400,000

Listing Price: $6,450,000

MINNECHADUZA CREEK RANCH - CROOKSTON, NE

AL RANCH - HALSEY, NE

The 4,385± acre Minnechaduza Creek Ranch is located 14 miles west of Valentine, Nebraska. The ranch includes 3.5 miles of creek, sub-irrigated meadows, dryland hay ground, pivot, three homes, numerous outbuildings, cottonwood/ cedar windbreaks, and features an indoor arena. The ranch is an excellent year-round operation.

The 15,296± acre AL Ranch is a complete 700 head yearround Sandhill ranch that has excellent improvements, great feed base, 12 mature shelterbelts, and a superb livestock water system. A highlight of the operation is the 445 head cow/calf national forest permit that goes along with the ranch.

Listing Price: $5,200,000

Listing Price: $8,400,000

2021 ANNUAL REPORT | HALL AND HALL

PLAINS/MIDWEST SALES

WHITNEY LAKE FARM - WHITNEY, NE

PHILPOT - STAPLETON, NE

CRAVEN RANCH - NEWPORT, NE

Whitney Lake Farm is 918± acres and located in northwest Nebraska, with scenic views of the Pine Ridge. The farm has 486 irrigated acres and a mile of Whitney lake water frontage.

The ranch consists of 1,731± deeded acres four miles north of Stapleton, Nebraska. The property borders Highway 83 and features 184± acres pivot irrigated, living shelterbelt, wetlands, and native Sandhill range.

The 320± acre Craven Ranch is located approximately four miles west of Newport, Nebraska. The ranch consists mostly of high-producing sub-irrigated hay meadows complete with a full headquarters, roping arena, and corrals.

Listing Price: $2,000,000

Listing Price: $2,650,000

Listing Price: $1,250,000

ARROWSMITH NIOBRARA RIVER RANCH - BASSETT, NE

The Malles Ranch is located on the western fringes of the iconic Sandhills of western Nebraska and consists of 5,368± acres. Included are sub-irrigated hay meadows, range of hills for winter protection, calving lot, lots of water, good blacktop access, native range pastures, and headquarters, allowing for a 325 AU operation.

Arrowsmith Niobrara River Ranch is located along the federally designated Scenic River corridor that shaped the landscape for centuries providing endless opportunities for cattlemen and recreation. The ranch consists of 4,400± deeded acres of hay meadows, upper bench grassland, timber, and 3.5 miles of river frontage with world-class wildlife habitat.

Listing Price: $3,995,000

Listing Price: $4,995,000

WAGSTAFF RANCH - ALMA, KS

SPRING CREEK RANCH - EUREKA, KS

The legacy Wagstaff Ranch is nestled amongst the spectacular Kansas Flint Hills 12 miles south of Alma. Sold in 3 different parecls. Historically used as a livestock grazing operation, there are 3 separate pastures and an excellent set of working pens. The beautiful rolling hills covered with native prairie grasses and tree-filled draws are absolutely stunning.

The Spring Creek Ranch is comprised of 10,793± acres of deeded land with predominantly native tallgrasses in the heart of the widely known Kansas Flint Hills. Excellent cow/ calf and stocker cattle operation ranch with trophy whitetail deer hunting.

Listing Price: $10,777,500

Listing Price: $23,204,950

(888) 557-3090 | info@hallandhall.com

Plains/Midwest

MALLES RANCH - GORDON, NE

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PLAINS/MIDWEST SALES

JUD LITTLE RANCH - SPRINGER, OK

RED ROCK RANCH - PONCA CITY, OK

The Jud Little Ranch is a 1,758± acre iconic horse and cattle ranch situated at the base of the Arbuckle Mountains in Carter County, Oklahoma. This ranch has been impeccably managed for over forty years, and with decades of championship pictures, buckles and saddles, it is now poised to pass along to the next champion and continue the winning tradition.

Nestled along the banks of the Arkansas River in North Central Oklahoma, with the river circling the ranch on three sides for 9 miles, the Red Rock Ranch is recognized as Oklahoma’s premier commercial ranch for upland gamebird and whitetail deer hunting.

Listing Price: $8,500,000

Listing Price: $17,600,000

Plains/Midwest

ADDITIONAL PLAINS REGION SALES - HALL AND HALL REPRESENTED THE BUYER

Walker Place | Kilgore, NE | 4,960± Deeded Acres | Listing Price: $5,700,000 Sandy Springs Ranch | Hana, OK | 2,061± Deeded Acres | Listing Price: $5,302,000 Logan-McPherson Ranch | Ringgold, NE | 6,112.85± Deeded Acres | Listing Price: $7,000,000

PACIFIC SALES

LONE PINE RANCH - COVELO, CA - LISTING PRICE: $25,000,000 Nothing is contrived about this historic ranch. This land is the legacy of stock market titan, Dean Witter. First purchased in 1942, it includes over 26,600 acres supporting viable cattle and timber operations. There are over 16.5 miles of frontage on the Eel River.

ADDITIONAL PACIFIC REGION SALES - HALL AND HALL REPRESENTED THE BUYER

Bear Creek Valley Ranch | La Grande, OR | 1,441± Deeded Acres | Listing Price: $5,159,000

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2021 ANNUAL REPORT | HALL AND HALL

THE SALMON PRAIRIE RANCH | BIGFORK, MT

ROCKIES SALES

SADDLE NOTCH RANCH - LOVELAND, CO

Turnkey 1,134± acre ranch featuring superb fishing on the Elk River, stream, lake, ponds, irrigated hay meadows, national forest adjacency, remodeled main home with guest, equestrian and support buildings, and location 20 minutes from Steamboat.

Located at the end of the road 14 miles west of Loveland, very private 367± acre mountain retreat anchored by spectacular 10,000± square foot owner’s home, four bedroom guest house, and barn. Loaded with wildlife in a beautiful setting surrounded by national forest.

Listing Price: $15,000,000

Listing Price: $7,500,000

CASCADE RANCH - IDAHO SPRINGS, CO

PIEDRA VALLEY RANCH - PAGOSA SPRINGS, CO

A 260± acre gentleman’s property located southwest of Idaho Springs, CO nearly enveloped by Arapaho National Forest. Featuring an exquisite mountain home, manager’s home, and turn of the century guest cabins.

Blessed with unequalled views, privacy, recreation, and wildlife, this 9,600± acre ranch borders national forest within 10 miles of Pagosa Springs. Modestly improved and providing a national park-like setting, Piedra Valley Ranch offers excellent hunting, a private lake, numerous ponds, and miles of creeks.

Listing Price: $3,600,000

Listing Price: $33,900,000

(888) 557-3090 | info@hallandhall.com

Rocky Mountains

ROONEY’S ROUND MOUNTAIN - STEAMBOAT SPRINGS, CO

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ROCKIES SALES

POWDERHORN RANCH - POWDERHORN, CO - LISTING PRICE: $3,390,000

Rocky Mountains

Exceptionally scenic and private 2,117± deeded acre mountain ranch with off-grid lodge, trophy big game hunting, and grazing.

Adjoining BLM lands, this beautiful property is 36 miles south of Gunnison.

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SEVEN LAKES RANCH - MEEKER, CO

BRISTLECONE RANCH - EVERGREEN, CO

Spanning an enormous block of mountain land rising from a trout-filled river up to the national forest, this exceptional 11,900± acre sporting paradise is distinguished by its trophy hunting, outstanding fishing, and luxurious lakeside lodge.

Tremendous off-the-grid retreat bordering national forest 15 minutes to town. Very good elk, deer, and turkey hunting.

Various other recreational opportunities. Seven bedroom 10,000± square foot lodge or home. Varied topography with stands of dark timber, aspen, and open meadows. Two creeks meander through this 200± acre property.

Listing Price: $40,000,000

Listing Price: $5,300,000

SLIVER CREEK RETREAT - STEAMBOAT SPRINGS, CO

STETSON RANCH - STEAMBOAT SPRINGS, CO

Located only 30 minutes from Steamboat Springs, this 165± secluded retreat on the edge of the Sarvis Creek Wilderness is highlighted by a rustic cabin, aspens, conifers, and rock outcrops with wildlife and trout fishing on Silver Creek.

Highlighted by over two miles of Yampa River only 20 minutes from Steamboat Springs, the 890± acre Stetson Ranch combines outstanding trout fishing, abundant wildlife and productive agriculture in a scenic and convenient location.

Listing Price: $1,850,000

Listing Price: $7,500,000

2021 ANNUAL REPORT | HALL AND HALL

ROCKIES SALES

GROVE CREEK RANCH - COLLBRAN, CO

Controlling nine miles of one of Colorado’s only spring creek fisheries in a spectacular canyon setting, this 3,167± acre holding provides excellent hunting, modest cabins, and 9,267± acres of leased BLM lands.

Situated on the north slope of the Grand Mesa in western Colorado, this scenic 1,720± acre mountain ranch is highlighted by a diverse landscape with excellent big game hunting, 1.5 miles of creek with trout, water rights and agricultural production, and a variety of improvements.

Listing Price: $5,750,000

Listing Price: $6,750,000

DIAMOND TAIL RANCH - RED FEATHER LAKES, CO

RAFTER T RANCH - PAGOSA SPRINGS, CO

Encompassing nearly the entire upper Laramie River valley in northern Colorado, this landmark 17,656± deeded acre ranch combines a successful livestock operation with over 27 miles of river and streams, 307± CFS of water rights, outstanding big game hunting, and a scenic mountain landscape.

This exceptional 887± acre ranch in southwest Colorado is nestled along the San Juan National Forest. Senior water rights offer first-rate fishing on the Piedra River, Devil Creek, and the property’s lakes and ponds. Views of Chimney Rock National Monument evoke the stunning beauty of this area.

Listing Price: $44,900,000

Listing Price: $21,500,000

RABBIT MOUNTAIN - VACANT LAND - LONGMONT, CO

STRAWBERRY PARK RANCH - STEAMBOAT SPRINGS, CO

Located minutes from Boulder, Rabbit Mountain Vacant Land is 119± acres of undeveloped, private, raw land teeming with development potential or the perfect location to build a private residence. Adjacent to Rabbit Mountain Open Space, the property offers water rights, irrigated meadows and is easily accessible.

An extraordinary mountain retreat located just two miles from downtown Steamboat Springs, 562± acre Strawberry Park Ranch features an unparalleled combination of stunning scenery, diverse landscape, fishing stream, abundant wildlife and remarkable privacy.

Listing Price: $2,300,000

Listing Price: $18,500,000

(888) 557-3090 | info@hallandhall.com

Rocky Mountains

ROAN CREEK RANCH - DE BEQUE, CO

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Rocky Mountains

ROCKIES SALES

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BITTER CREEK RANCH - RANGELY, CO

SOUTH COMANCHE RANCH - BYERS, CO

Multi-generational 11,037± deeded acre ranch with exceptional mix of recreation and grazing opportunities. Truly diverse topography from dark timber and aspen-covered mountains, irrigated pastures to open range, and treecovered creek bottoms. Trophy mule deer and elk hunting as well as fishing and other recreational opportunities.

South Comanche Ranch offers 16,573± deeded acres located south of Byers and an hour east of Denver. Owner rated at 650± pairs, exceptionally well-watered, diverse topography, multiple drainages, and creek bottom, functional improvements, expertly maintained ranch owned by professional grade ranching family for over 50 years.

Listing Price: $14,900,000

Listing Price: $19,800,000

EAGLE RIVER ANGLER - EAGLE, CO

ASPEN GROVE RANCH - KREMMLING, CO

Ideally located, this 36.8± acre retreat features a riverside residence and 1,000± feet of Eagle River frontage just minutes from Vail and Beavercreek. Excellent on-site angling with ownership providing access to miles of additional private river and amenities within one of Colorado’s most exclusive shared ranch communities.

Secluded 350± acre retreat featuring a magnificent lodge and guest home set amid an aspen forest with cascading waterfalls and ponds. This is the perfect sanctuary to gather, relax and enjoy mountain recreation. Located only ten minutes from a real town with jet strip.

Listing Price: $2,250,000

Listing Price: $19,000,000

WHITE RIVER RETREAT - MEEKER, CO

EAGLE RIVER SANCTUARY - EAGLE, CO

Highlighted by a beautiful private stretch of the coveted White River encompassing both sides of the river, this 80± acre property also features irrigated meadows with senior water rights and home with shop and storage buildings.

Located only seven miles from the town of Meeker.

This rare Eagle River offering is distinguished by a private and beautiful setting comprised of a total of 173± deeded acres replete with exceptional improvements, onsite recreation, and an unmatched combination of river frontage and mountain lands – all within close proximity to Vail and Beaver Creek.

Listing Price: $ 2,500,000

Listing Price: $15,000,000

2021 ANNUAL REPORT | HALL AND HALL

ROCKIES SALES

PARADISE RANCH ON THE SOUTH FORK BENCH - RIRIE, ID - LISTING PRICE: $1,600,000 Bordering 1.6 million acres of public lands along the South Fork Bench, this 307± acre ranch offers river and mountain views with perfect building sites. Big game and upland birds are abundant and world-class fishing is just steps away on the South Fork of the Snake River.

CAMPBELL’S FERRY RANCH - IDAHO COUNTY, ID

One of the premier sporting ranches in the Teton Valley area, these 200± deeded acres represent a blank canvas offering some of the best Teton Mountain views, private fishing on Conant Creek, trophy big game hunting, and adjacent national forest right out the back gate.

Historic 85± acre backcountry ranch on the Salmon River encompassed by the Frank Church Wilderness 55 air miles northeast of McCall. Features a private airstrip, cabin and ranch buildings, a reliable off-grid power system, and abundant, year-round wildlife. Access by foot, horseback, plane, or jetboat.

Listing Price: $2,225,000

Listing Price: 1,250,000

MULESHOE RANCH - SALMON, ID

EAST MAGIC RANCH - SUN VALLEY, ID

The 1,885± acre Muleshoe Ranch represents a well-balanced cattle and recreational ranch. Known as the birthplace of Sacagawea, the ranch offers several residences, ranch improvements, 2.5± miles of Lemhi River, 634± acres of irrigated cropland and grazing leases in the adjacent public lands.

640± undeveloped acres surrounded by federal lands 20 miles from Sun Valley’s airport with excellent grazing resources, building sites, mountain views, and potential for landowner tags. Year-round access on county roads.

Excellent hunting and fishing in the area with Magic Reservoir just minutes away.

Listing Price: $9,100,000

Listing Price: $725,000

(888) 557-3090 | info@hallandhall.com

Rocky Mountains

TETON VIEW RANCH ON CONANT CREEK - LAMONT, ID

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ROCKIES SALES

REYNOLDS CREEK LAND COMPANY - MURPHY, ID - LISTING PRICE: $6,000,000

Rocky Mountains

Year-round 450± head operating ranch on 2,826± deeded acres with three miles of Reynolds Creek and a BLM permit stretching from the Snake River to the Owyhee Mountains. Features 300± irrigated acres and a full set of improvements including two homes.

Located 55 miles from Boise.

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TETON VISTAS RANCH - FELT, ID

TIMMERMAN RANCH - SUN VALLEY, ID

With full range views of the Teton Mountain range, this 320± acre ranch offers a great balance of irrigated pastures and grazing lands, creek bottom and sagebrush, plus hilltop acreage providing excellent habitat for the area’s native big game and upland birds.

176± acres 30 minutes south of Sun Valley along State Highway 75. One of the original ranches in the valley, the property features 55± acres of sprinkler irrigated cropland, a 4± acre irrigated tree farm, and excellent views and building locations.

Listing Price: $832,000

Listing Price: $650,000

SPINNER FALL RANCH - THREE FORKS, MT

FRED BURR CREEK ACREAGE - PHILIPSBURG, MT

Situated on the banks of the Madison River, this sportsman’s paradise boasts over 3 ½ miles of river frontage and more than 5 ½ miles of reclaimed spring creek on its 1,050± acres.

The ranch offers waterfowl, upland bird and whitetail deer hunting, and world-class fly fishing.

Fred Burr Creek flows for nearly 1,800 feet through this 89± acre lot offering multiple building sites and power. Minutes from Discovery Ski Area, Disco Bike Park, and the town of Philipsburg, this locale offers year-round appeal. Lot is accessed by a private, dead-end road.

Listing Price: $9,300,000

Listing Price: $1,080,000

2021 ANNUAL REPORT | HALL AND HALL

ROCKIES SALES

HIGH DIVIDE RANCH - DELL, MT

National Forest borders on 1,027± acres in Bitterroot. Water rights, creeks, wetlands and pond create a wildlife haven filled with elk, whitetail, turkey and bear. Barn/shop complex with meat locker and processing kitchen, plus a 2,200 sq. ft. owner’s quarters are ready to go.

This 3,060± acre summer cattle ranch is in a remote, ecologically important high mountain basin in southwest Montana adjacent to national forest. It’s a stronghold for wildlife and a centerpiece for connectivity into three wilderness complexes. Four custom-built cabins and historic barn were recently renovated.

Listing Price: $5,995,000

Listing Price: $4,500,000

E LAZY V RANCH - THREE FORKS, MT

SANCTUARY RANCH - ROBERTS, MT

Preeminent working and sporting ranch with 7,964± acres and 6.5± miles of Madison River frontage just 35 minutes from Bozeman. Historic ranch compound with 1,694± pivot irrigated acres supports a 500-cow operation with additional farming. Teeming with wildlife and miles of the Madison to fly fish.

Located 38 miles from Billings near Red Lodge, this 879± acre private fishing retreat offers a terrific 12,500± square foot log home, 1.5 miles of a private spring creek enhanced fishery, two miles of Rock Creek and nine stocked ponds plus upland bird hunting.

Listing Price: $27,000,000

Listing Price: $6,900,000

WHITE FEATHER RANCH - STEVENSVILLE, MT

ENGDAHL RANCH - JORDAN, MT

North Burnt Fork Creek flows through this heavily irrigated 98+ acre Bitterroot Valley ranch for over a half mile. There is a large, historic barn and there are multiple building sites to choose from each with sweeping mountain views. Situated in the mildest climate in Montana.

The Engdahl Ranch runs on approximately 15,700 acres with 11,250± deeded. There are approximately 1,300 acres of dryland farm ground and an additional 4,500± acres of BLM and state lease . The well-cared-for headquarters is located 20 miles northeast of Jordan, Montana. The estimated stocking rate is approximately 350 AUs.

Listing Price: $1,700,000

Listing Price: $4,500,000

(888) 557-3090 | info@hallandhall.com

Rocky Mountains

MILLION GULCH RANCH - STEVENSVILLE, MT

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Rocky Mountains

ROCKIES SALES

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UPPER GREYSON CREEK RANCH - TOWNSEND, MT

LAZY L CREEK RANCH - RED LODGE, MT

Summer grazing for 250 pair and premium elk hunting ground near Townsend, Montana. Upper Greyson Creek is a 1,945± (1,305± deeded, 640± lease) well-watered ranch with brand new, 1,729± square foot log home on Greyson Creek.

Adjacent to US Forest Service for additional recreational opportunities.

Lazy L Creek Ranch is a 1,489± acre ranch located 15 miles from Red Lodge, Montana. The ranch boasts creek frontage on Red Lodge Creek, renovated improvements, and dramatic mountain views. Recreational attributes are outstanding with trout fishing, big game, and upland bird hunting.

Listing Price: $2,100,000

Listing Price: $3,490,000

THE SALMON PRAIRIE RANCH - BIGFORK, MT

JP LAND & CATTLE 1218 AC - DRUMMOND, MT

The Salmon Prairie Ranch includes 297± acres bordering the Flathead National Forest with almost a mile of Swan River frontage. Improvements include a log home, guest cabin, and manager’s home, all with snowcapped peak views. Fortyfive minutes to Bigfork and 1.5 hours to Missoula.

1280 acres of native range, Two miles of the Clark Fork River, new barn, 60 acres under two center pivots, 35 minutes from Missoula, Montana. Perfect as a recreational piece or small, all season cattle operation.

Listing Price: $6,000,000

Listing Price: $3,000,000

BEARTOOTH FARMHOUSE - RED LODGE, MT

WEST FORK RANCH - DARBY, MT

The Beartooth Farmhouse sits on 181± acres of which 133± is irrigated. Only six miles from Red Lodge, MT, and one hour from Billings, the ranch has magnificent views of the Beartooth Mountains and Red Lodge Ski Resort. The beautiful 1920s era farmhouse has been beautifully remodeled.

The West Fork of the Bitterroot River flows through this impressive holding. It is very hard to find riverfront land that has yet to be developed. Easy access off the pavement with multiple building sites.

Listing Price: $2,000,000

Listing Price: $2,200,000

2021 ANNUAL REPORT | HALL AND HALL

ROCKIES SALES

LITTLE ROCKY CANYON RANCH - BELGRADE, MT - LISTING PRICE: $8,900,000 1,128± acres minutes from Bozeman in a private and scenic mountain setting. A mosaic of rolling farmlands with large pockets of aspen trees and flowing springs create a scenic habitat through the middle of the ranch. Elk, deer, pheasant, and a variety of wildlife are abundant.

RAPELJE BISON RANCH - RAPELJE, MT

Blue Ribbon Rock Creek frontage of 4,850± feet on both the Middle and East Forks near Philipsburg, Montana. Three waterfront residences, shop, and indoor riding arena on 108± productive acres. Extensive water rights including stock water and flood irrigation. Significant short term rental income from cabins.

Located 25 miles north of Columbus, 16,000± acre former bison ranch with 3,300± acres of dryland crop and outstanding fencing. Comfortable, practical improvements and excellent stock water. Easy operating grass ranch with big views of the Beartooth Mountains and only 35 miles from Billings.

Listing Price: $2,499,500

Listing Price: $8,495,000

CIRCLE L RANCH - STEVENSVILLE, MT

MELVIN R. BECK RANCH - DEER LODGE, MT

Situated in the heart of the Bitterroot Valley near Stevensville, Montana, the Circle L Ranch offers a compact, well-watered 1,000± ton grass hay operation with quality operational and residential improvements. Located 45 minutes from Missoula, Montana’s second-largest city, it’s an accessible and turnkey holding.

Minutes from Deer Lodge, MT, the Melvin R. Beck Ranch offers 287± acres with 100± acres under wheel line and 120± acres under pivot. Historic homestead, outbuildings, and mountain views ready for new stewards to carry on the ranching tradition.

Listing Price: $4,950,000

Listing Price: $1,799,000

(888) 557-3090 | info@hallandhall.com

Rocky Mountains

TWISTED FORK AT ROCK CREEK - PHILIPSBURG, MT

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ROCKIES SALES

GOLDEN VALLEY RIVER RANCH - RYEGATE, MT - LISTING PRICE: $7,500,000

Rocky Mountains

Minutes from Rygate and an hour from Billings, MT, this 5,964± acre ranch features a 3,800 square foot log home, 6.5 miles of Musselshell river, shop, barn, and grain bins. Also, has pivot irrigation, dryland farming, and rangeland. Terrific upland .bird, waterfowl, and big game hunting.

DOUBLE C RANCH - TOWNSEND, MT

KR ROCKING RANCH - KIRBY, MT

Uniquely productive 2,697± acre valley to foothill ranch beautifully located east of Canyon Ferry Reservoir between Bozeman and Helena. Approximately 1,403 cropped acres beneath 14 pivots with exceptional water resources.

Abundant wildlife, including elk, inhabit the mountain acreage which overlooks the ranch headquarters.

Located an hour north of Sheridan, this 7,650± acre (2,475± deeded) 500 AU Montana ranch lies in the highly regarded Wolf Mountains, where annual precipitation exceeds 24 inches and weight gains are exceptional. New home and highly functional operating compound complete the package.

GO AWAY RANCH - ALADDIN, WY

THUNDER RIVER RANCH - LARAMIE, WY

Located adjacent to the Black Hills National Forest 11 miles northwest of Aladdin, this exceptional 1,661± acre private retreat offers a diverse landscape including two fishing lakes, two streams, an exquisite four-bedroom lodge, and outbuildings.

Encompassing a diverse landscape of 26,056± total acres (20,502± deeded plus 5,554± leased) that are well-blocked and extremely private, Thunder River Ranch combines a large working ranch with outstanding big game hunting and fishing.

Listing Price: $3,100,000

Listing Price: $20,975,000

Listing Price: $14,300,000

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2021 ANNUAL REPORT | HALL AND HALL

Listing Price: $3,790,000

ROCKIES SALES

ROCK CREEK 222 - BUFFALO, WY

Located 20 miles south of Ten Sleep in a dramatic canyon setting. It is a true wildlife sanctuary and offers great dry fly fishing in multiple miles of Otter Creek. Its 276± acres includes over two miles of the canyon and countless miles of fishing.

Two miles from Buffalo, this 222± acre property lies along one mile of one of the area’s sought after fisheries – Rock Creek. With 35± acres of meadows and multiple private and secluded homesites and great Big Horn Mountain views, it awaits the next chapter.

Listing Price: $2,250,000

Listing Price: $1,400,000

WORTON RANCH - AFTON, WY

TRACY RANCH - WRIGHT, WY

TROUT FISHING RANCH Located an hour south of Jackson in the beautiful Star Valley, this 760± acre ranch includes minimal improvements, stunning private building sites, 180± acres of meadows and a mile of a sought-after stretch of the Salt River. Nicely balanced small livestock operation.

Located 25 miles SE of Wright, this 18,154± acre (7,260± deeded) ranch rated at 300AUs consists of grass plains, deep canyons, and timbered ridges fenced into 12 well watered pastures. Full set of practical improvements including a comfortable home. Excellent hunting for elk, deer, and antelope.

Listing Price: $4,840,000

Listing Price: $4,500,000

UPPER WILLOW GLEN - BUFFALO, WY

EAGLES NEST RANCH - ALTA, WY

This productive foothills ranch is Ideally situated at the base of the Big Horns and consists of 3,567± deeded acres and 880± acres of State and BLM grazing leases. The ranch features solid improvements, two streams, privacy, views, and an abundance of wildlife.

Pristine 40 acre retreat sited at the mouth of Spring Creek Canyon overlooking the Teton Valley and highlighted by a tasteful 3,848± square foot home. Bordering Targhee National Forest, this property offers an abundance of recreational opportunities while being conveniently located minutes from Driggs.

Listing Price: Confidential

Listing Price: $2,500,000

(888) 557-3090 | info@hallandhall.com

Rocky Mountains

OTTER CANYON RANCH - TEN SLEEP, WY

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ROCKIES SALES

RED REFLET RANCH - TEN SLEEP, WY - LISTING PRICE: $18,995,000

Rocky Mountains

Significant guest and cattle ranch located six miles southeast of Ten Sleep running on nearly 28,500 acres (6,600± deeded) from the desert to the top of the Bighorns. Exquisite lodge, four guest houses, complete equine facility, exceptional views, and wildlife.

Includes 5,000 foot paved airport.

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LAZY RIVER RANCH - BOULDER, WY

HAWKEYE RANCH - CODY, WY

A well-balanced cattle and recreational ranch, the Lazy River Ranch offers several residences, ranch improvements, worldclass fishing on over 12+ miles of New Fork River, and 1,000± acres of irrigated hay ground with seven pivots and a selfsustainable 220 head cow/calf operation.

Located in the renowned Upper South Fork Valley 45 miles southwest of Cody. A critical holding in a spectacular setting at the end of the road adjacent to USFS and the South Fork River. An extraordinarily complete and well-executed improvement complex offered essentially turnkey.

Listing Price: $13,500,000

Listing Price: $15,000,000

DOUBLE H RANCH - TEN SLEEP, WY

STONE RANCH - RAWLINS, WY

Easily operated mountain ranch 20 miles south of Ten Sleep on 13,000± acres (4,706± deeded) running from open lowlands toward the top of the Bighorn Mountains through spectacular red canyons opening up to huge expanses of range grasses.

Complete, comfortable, well-kept improvements.

Located 20 miles north of Rawlins, this sprawling 85,700± acre (16,990± deeded) blocked up grazing ranch estimated at 800 animal units with 11 pastures and functional improvements has been lovingly stewarded and offers excellent big game hunting for trophy quality mule deer, elk, and antelope.

Listing Price: $5,575,000

Listing Price: $7,500,000

2021 ANNUAL REPORT | HALL AND HALL

LITTLE ROCKY CANYON RANCH | BELGRADE, MT

ROCKIES SALES ADDITIONAL ROCKIES REGION SALES - HALL AND HALL REPRESENTED THE BUYER

(888) 557-3090 | info@hallandhall.com

Rocky Mountains

Sanctuary on Morrison Creek | Oak Creek, CO | 377± Deeded Acres | Listing Price: $2,200,000 Browne Farm | Moore, ID | 190± Deeded Acres | Listing Price: $725,000 Driggs Farm | Driggs, ID | 240± Deeded Acres | Listing Price: $830,000 Bear Rock Ranch | Donnelly, ID | 194± Deeded Acres | Listing Price: $4,325,000 Catlett Ranch| Tetonia, ID | 935± Deeded Acres | Listing Price: $6,950,000 Broken Bar W Ranch | Driggs, ID | 140± Deeded Acres | Listing Price: $995,000 Blackfoot River Junction Ranch | Ovando, MT | 612± Deeded Acres | Listing Price: $12,000,000 Patterson Land & Livestock Co | Custer , MT | 36,386± Deeded Acres | Listing Price: $25,000,000 TBD Pennington | Twin Bridges, MT | 81.80± Deeded Acres | Listing Price: $650,000 Resolute Ridge | Bozeman, MT | 20.02± Deeded Acres | Listing Price: $2,995,000 E Hanging T Ranch | Chinook, MT | 7,000± Deeded Acres | Listing Price: $5,500,000 NHN Star Meadows Drive | Whitefish, MT | 158± Deeded Acres | Listing Price: $2,995,000 Sun West Ranch-Lot 38 | Cameron, MT | 5.75± Deeded Acres | Listing Price: $509,000 Antelope Creek Ranch | Sumatra, MT | 29,480± Deeded Acres | Listing Price: $14,000,000 The Buck Ranch at Hall | Hall, MT | 1,100± Deeded Acres | Listing Price: $3,799,500 River Road Ranch | Bozeman, MT | 163± Deeded Acres | Listing Price: $12,500,000 Sun West Ranch - Lot 36 | Cameron, MT | 5.93± Deeded Acres | Listing Price: $315,000 223 E Main | Bozeman, MT | .09± Deeded Acres | Listing Price: $6,995,000 Sun West Ranch - Lot 9A | Cameron, MT | 6.0± Deeded Acres | Listing Price: $295,000 Dome Mountain Ranch | Livingston, MT | 5,329± Deeded Acres | Listing Price: $45,000,000 Crazy Elk Ranch | Belgrade, MT | 3,731± Deeded Acres | Listing Price: $28,000,000 Parrot Creek Ranch | Roundup, MT | 12,831± Deeded Acres | Listing Price: $14,900,000 N Laramie River Ranch | Garrett, WY | 5,733± Deeded Acres | Listing Price: $5,650,000 Split Rock Ranch | Muddy Gap, WY | 16,891± Deeded Acres | Listing Price: $12,400,000 Salt River Freedom Ranch | Freedom, WY | 148.19± Deeded Acres | Listing Price: $1,800,000 Powder River Valley Homestead | Kaycee, WY | 68.99± Deeded Acres | Listing Price: $795,000 Alta Horse Retreat | Alta, WY | 10± Deeded Acres | Listing Price: $3,195,000 White River Retreat | Alta, WY | 80± Deeded Acres | Listing Price: $319,500 Babione Ranch| Sheridan, WY | 490± Deeded Acres | Listing Price: $3,750,000 Independence Valley Farm & Ranch | Wells, NV | 47,700± Deeded Acres | Listing Price: Confidential

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2021 EXCEEDED EXPECTATIONS! Will 2022 follow the same trends?

E

very year-end, we tally up the gross loan volume generated

by Hall and Hall’s lending group and make some general observations about where the deals came from, why, and how we can best serve clients’ current needs. Despite tremendous market liquidity and the majority of rural real estate transactions being funded with cash, we had a record loan year in 2021 in terms of both dollar volume and number of transactions.

J.T. HOLT

Managing Director, Loan Officer Lubbock, TX

WHERE DID DEALS COME FROM?

We are extremely proud of the business volume that came from existing clients as a result of previous experience with the professionals at Hall and Hall. It’s our most significant source of business every year. We take great pride in clients that expand their relationships with Hall and Hall based on prior experience. This is also true for our brokerage and management clients that appreciate the value of our people and team approach. Equally satisfying are the new relationships we make as a result of referrals from clients, investment advisers, accountants, attorneys, operating lenders, and even competing brokerage firms that refer financing opportunities to us.

WHY?

At the most fundamental level, people borrow money to purchase property when they have insufficient cash available but are able to cover loan payments from property operations or other earnings. However, often borrowing money is part of a client’s larger, overall strategy to meet short or more likely, long-term financial goals. We regularly loan money to clients who wish to realize arbitrage on the cost of debt capital to other investment returns, hedge interest rate risk via prepayable long-term fixed rates, hedge inflation risks, or reduce liquidity risk by utilizing stable long-term assets as a one-time or recurring source of operating or investment capital.

FINANCE TODAY, OUR TAKE

Our company began as an agricultural mortgage originator shortly after World War II. Over time, we have evolved and adapted into an underwriter of loans beyond the concept of “what loan level will the land support.” Today we are a comprehensive lender skilled at underwriting the land and understanding the needs of the borrower. We have invested in technologies that allow us to quickly understand property values and operations throughout our lending territory and provide efficiency in the loan origination and closing process. Advances made by the lending industry, particularly our investor sources, have created more flexible and adaptive loan products and streamlined underwriting processes. We underwrite and close large, complex transactions and also offer simplified loan products that involve little more than a credit score and collateral valuation.

If you fit any of the “why” reasons people borrow money on rural property, please contact one of our lending professionals to discuss the products and loan terms that are right for you.

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2021 ANNUAL REPORT | HALL AND HALL

ENJOY YOUR LAND INVESTMENT And leave the details to us

A

record number of farms and ranches across the region changed hands in 2021, and we feel fortunate to have worked with many new landowners seeking management services. Among other assignments last year, we assisted in preparing management plans, hiring managers and caretakers, sourcing lease tenants, and overseeing improvement projects. We also expanded our service capacity in 2021 by bringing on two new team members. Jim Fryer is located in our Bozeman, Montana office and has a solid background in cow-calf and yearling operations and international commodity merchandising. Brant Marsh is based in Dillon, Montana, and comes with life-long experience in diversified cattle and farm production combined with strong knowledge of placing lease tenants and ranch managers.

JEROME CHVILICEK

Director, Management Group Billings, MT

Although there were many opportunities in 2021, landowners and agricultural producers across the region also faced a number of challenges.

The extreme drought that extended across the Northern Rockies into the upper plains was perhaps the most significant productivity variable we encountered last year. In fact, several counties registered the driest summer months since the late 1800s. As a result of these conditions, cattle inventory will likely decrease more than five percent in Montana.

While many producers were sending cattle to slaughter early, there was also strong buying interest from Texas and other southern states that had much better grazing conditions. This transfer of breeding stock will offset a portion of headline supply cuts expected next year. Regardless, beef production will be declining over the next one to three years despite the industry finding record consumer demand.

Along with a rebalancing of the region’s cattle inventory, we saw a significant increase in feed costs last year. This situation affected both individual operators who were forced to replace lost hay production due to the drought and backgrounding lots that feed higher concentrate rations and had to compete with strong grain-buying interest from China.

This situation will likely continue through 2022 given the probability of limited yield gains as a result of significantly higher fertilizer costs.

With the goal of making land ownership an enjoyable and trouble free experience, Hall and Hall’s management group continues to be a leader in providing management and consulting services to landowners across our region. We look forward to working with new and existing clients in the coming months. Please contact one of our management representatives to discuss management options for your property.

Contact a Hall and Hall management representative in your area to discuss our various management options.

(888) 557-3090 | info@hallandhall.com

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CLOVERDALE FARM | MILLBORO, VA

Southeast

SOUTHEAST SALES

AVALON TIMBERLANDS - JEFFERSON COUNTY, FL - LISTING PRICE: $17,000,000 Excellent commercially managed timberland investment opportunity located only 20 miles east of Tallahassee in North Florida’s vibrant forest product market. Above average site indexes. Great location to mills.

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SUGAR CREEK FARM - MADISON, GA

CLOUDLAND BROW - CLOUDLAND, GA

This 227± acre recreational farm is located in Madison, Georgia, only an hour from Atlanta. Extremely well-maintained grounds with diverse landscape. Great water resources with 6-acre fishing lake and a mile of Sugar Creek. Centerpiece is a custom 5,225± square foot craftsman home overlooking lake.

450± acres on top of Lookout Mountain, GA. A mile of brow frontage for development or individual home site.

Flat hardwood forests along eastern brow before elevation change, leading to mountain creek and waterfall. Close proximity to McLemore Golf Course and Desoto State Park.

Listing Price: $2,750,000

Listing Price: $1,250,000

2021 ANNUAL REPORT | HALL AND HALL

SOUTHEAST SALES

CLIFTON BEND - CLIFTON, TN - LISTING PRICE: $4,600,000 Clifton Bend is a 1,232± acre farm on the Tennessee River in Decatur County, TN. Very rich, diverse landscape makes ideal hunting habitat. 415± acres of fertile farmland generating $52,000± of annual income. 100± acre natural cypress lake. 1,600± sq ft cabin.

Two hours from Nashville.

CLOVERDALE FARM - MILLBORO, VA

Airy Hall is a 1,630± acre historic rice farm on the Ashepoo River in South Carolina’s ACE Basin between Charleston and Hilton Head. The land and deep water river frontage offer a variety of recreational opportunities, from polo and fox hunting to boating and fishing.

212± acres in the heart of the Allegheny Mountains and Bath County’s scenic Cloverdale Valley. Featuring a stunning, custom-built 6,200 square foot house bordered by national forest. A stable, riding ring, trails, and 5½ acre pond complete this exceptional recreational property.

Listing Price: Confidential

Listing Price: $3,500,000

Southeast

AIRY HALL - GREEN POND, SC

RIVER RIDGE RANCH - MILLBORO, VA - LISTING PRICE: $3,295,000 Gorgeous 370± acres on the Cowpasture River. Bordered by national forest on two sides, this well-improved property includes a four-bedroom house, multiple guest cottages, and several ranch buildings. Conveniently located 25 minutes from Hot Springs and the Homestead Resort.

ADDITIONAL SOUTHEAST REGION SALES - HALL AND HALL REPRESENTED THE BUYER Mountain View Farm | Flint Hill, VA | 314.68± Deeded Acres | Listing Price: $1,800,000 Sunny Hill East | Tallahassee, FL | 4,561± Deeded Acres | Listing Price: Confidential (888) 557-3090 | info@hallandhall.com

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LA ESPERANZA RANCH | LAREDO, TX

Southwest

SOUTHWEST SALES

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HIGH TIMBER RANCH - TIERRA AMARILLA, NM

LOBO RANCH - LAGUNA, NM

Encompassing 3,359± deeded acres outside of Chama, New Mexico, this complete holding combines premium mountain land and big views with excellent big game hunting, grazing, and 4.5± miles of trout streams. Ownership is uncomplicated with year-round paved access and an attractive owner’s log cabin and guest cabin.

Just over an hour’s drive west of Albuquerque, NM, the Lobo Ranch occupies 46,485± deeded acres of stunningly beautiful landscape. This working cattle ranch has outstanding recreational attributes, including abundant wildlife and plentiful habitat, on over 70± square miles of contiguous land adjacent to the Marquez Wildlife Area.

Listing Price: $7,190,000

Listing Price: $22,080,684.75

JS RANCH - JONESBORO, TX

THREE CIRCLE FARMS - BAGWELL, TX

JORDAN RANCH - BROWNWOOD, TX

JS Ranch is comprised of 960± acres with partial frontage on Highway 36. With a central location in the heart of Texas ranch country, the diversity and varied natural beauty of the ranchland balance with the recent improvements to offer value and abundant family recreation.

This 2,005± acre farm is 89% tillable and well improved with 1,080± acres under 3 T-L Pivot systems, each supported by multiple alluvial wells. Three homes and large steel buildings are among the wellmatched improvements. Tile drainage and deep soils add production value also.

Pride in ownership is immediately apparent with every aspect of this 425± acre combination ranch in Brown County with a home and guest cabin for entertaining friends and family. This working livestock operation includes cattle and horse improvements, diverse habitat, and a managed deer herd.

Listing Price: $3,750,000

Listing Price: $5,914,750

Listing Price: $1,697,000

2021 ANNUAL REPORT | HALL AND HALL

SOUTHWEST SALES

TECUMSEH RANCH - THROCKMORTON, TX - SOLD BY SEALED BID SALE Rising out of the fertile banks of the Clear Fork of the Brazos River, lies the historic Tecumseh Ranch. Approximately 9,388 acres of productive rangeland, mesquite studded plains, river valley, deep canyons and traversed by the beautiful Tecumseh creek. Truly a historic offering in the heart of Texas ranch culture.

Southwest

PLUMMERS CREEK RANCH - GROESBECK, TX

IRON BRIDGE CREEK RANCH - MAYDELLE, TX

Plummers Creek Ranch offers lush Bermuda pastures across hilltops and bottomland, big western views, and perfectly sized improvements for the cattlemen and weekenders alike.

Several ponds, excellent fencing, fertile soils, and excellent wildlife diversity combine within a solid ranching community to make a rare offering.

Conveniently located two hours southeast of Dallas and two hours north of Houston, IBCR is an exclusively beautiful wooded getaway. Game fenced, stocked with improved whitetail, heavily wooded, and with improved infrastructure, the ranch is perfectly suited for the family that hunts together.

Listing Price: $1,750,000

Listing Price: $1,995,000

PINE CREEK RANCH - BAGWELL, TX

LA ESPERANZA RANCH - LAREDO, TX

RAINBOLT RANCH - MARQUEZ, TX

Pine Creek Ranch is comprised of 3,476± acres of predominately grassland pastures adjacent to the Red River. The diversity and agricultural production offer value to the cattle and outdoor enthusiast.

La Esperanza Ranch comes turnkey, 297± acres in Webb County with paved FM2895 frontage, electricity, city water, 30 miles to Laredo, hunting blinds/feeders, grazing pastures, troughs, and new interior fencing.

Located in western Leon County, this exceptional 2,174± acre ranch is notable for the region in size and quality. With a grazing capacity of 625 AU, the ranch offers quality improvements and over 30 ponds.

Listing Price: $7,994,800

Listing Price: $1,000,500

Listing Price: $9,996,831

(888) 557-3090 | info@hallandhall.com

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SOUTHWEST SALES

CAMPOS VIEJOS RANCH - RIO GRANDE CITY, TX

A ranching gem in the heart of Texas, Blanket Creek Ranch offers 724± acres, modest 3/2 home, large 50X100 shop, rolling hills, cultivated fields, and two creeks merging at the main water feature creating a permanent impoundment. The cross-fencing, road system and scenic overlooks add to the quality of this productive ranch.

Campos Viejos Ranch has been a premier native whitetail deer hunting destination for decades. The turnkey property is 954± high-fenced acres, with two primary residences, a hunter’s motel, three water wells, 11 hunting blinds, barn, walk-in cooler, and 140± acres of tillable ground.

Listing Price: $3,100,000

Listing Price: $4,150,000

Southwest

BLANKET CREEK RANCH - ZEPHYR, TX

ANTLER RIDGE RANCH GRAHAM, TX

WILLOW SPRINGS RANCH BROWNWOOD, TX

COLLEGEPORT FARMS COLLEGEPORT, TX

A recreational hideout in Young County, Antler Ridge offers 358± acres, modular home with utilities on site, large 45 X 30 shop, rolling hills, food plot opportunities, three tanks, and 2 seasonal creeks.

The fencing, road system, and scenic overlooks add to the quality of this recreational retreat.

330± acres with strong agricultural opportunities and stunning views of mature oaks, hardwoods, and bull mesquite situated near the small town of Bangs in the west central portion of Brown County. Sufficient water for both wildlife and livestock. New set of scales and working pens are negotiable.

Collegeport Farm is a developed and improved 715± acre unit located in southwest Matagorda County. The farm is comprised primarily of rich Laewest Clay soils and is improved with a 2018 modular home and large equipment storage shed. Ideal for an investor, expanding operator, or young farmer.

Listing Price: $1,163,792

Listing Price: $895,950

Listing Price: $3,350,000

ADDITIONAL SOUTHWEST REGION SALES - HALL AND HALL REPRESENTED THE BUYER Palo Pinto Ranch | Santo, TX | 721± Deeded Acres | Listing Price: $6,825,000

TM 284 Ranch | Centerville, TX | 284± Deeded Acres | Listing Price: $1,349,000 Palo Pinto Lakehouse | Gordon, TX | 1± Deeded Acres | Listing Price: $695,000 Tetasola Ranch | Aspermont, TX | 329± Deeded Acres | Listing Price: $333,956 JJM Ranch | Aguilares, TX | 560± Deeded Acres | Listing Price: Confidential

Santa Lucia Ranch | Laredo, TX | 184± Deeded Acres | Listing Price: Confidential

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ROTHER FARM & RANCH AUCTION | APRIL 2020

AUCTION HIGHLIGHTS The year started with a bang and never slowed down. We were fortunate to market 1,471± acres in Knox County, Missouri, to kick off the auction season. That farm sold for $7,560,000, confirming the strong appetite for farmland. February found us marketing farms in both Kansas and North Dakota, leading to our showcase auction in eastern Colorado, where we sold 36,558± acres which included approximately 19,000 acres of grassland for $35,844,000.

In 2021, we held multiple auctions in eastern Colorado and Kansas, and the 35 pivot auction for the Zeman family in Nebraska. We sold a farm/ranch property in central Arkansas, followed by an 11,293± acre property in Texas/Oklahoma/Arkansas that brought $26,575,500. We wrapped up the year with auctions in South Dakota and West Virginia. All told, we were excited to market over 75,000 acres in 10 states through the auction method of marketing. This year we were also very excited to be awarded the 2020 National Brochure of the Year for an auction we conducted in Roanoke, Virginia, in late 2020.

RED RIVER VALLEY FARM

SCOTT SHUMAN

CAI, Real Estate Partner Eaton, CO

"

Our relationships extend beyond auction day. We continue serving our clients by helping them to sell their real estate holdings sometimes across multiple states over multiple years. Whether it’s today, next month, or next year, we have our clients covered.

"

WILLOW BEND RANCH (888) 557-3090 | info@hallandhall.com

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A GLOBAL PERSPECTIVE WITH LOCAL EXPERTISE. With 19 regional offices, our team offers a global perspective, local knowledge and personal service. We are deeply rooted and highly experienced in Investment Quality Rural Real Estate, and our partnership structure creates an unmatched atmosphere of teamwork that benefits every client.

SALES | AUCTIONS | FINANCE | APPRAISALS | MANAGEMENT

(888) 557-3090 | info@hallandhall.com | hallandhall.com

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