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On the Block: 600+ Acres in Kentucky and Tennessee

Land Report Editors — Mon, 17 Oct 2011 07:00:13 +0000

Five tracts in Western Tennessee and Kentucky totaling more than 600 acres will be auctioned on October 27. In addition to a considerable recreational component, the tracts are heavily timbered. According to Roebuck Auctions founder John Roebuck, these tracts are ideal investment opportunities that feature great hunting. A past president of the National Auctioneers Association, Roebuck has spent more than three decades in the auctioneering profession.

The breakdown on the tracts by location is as follows:

243± acres in McNairy County, Tennessee
195± acres in Hardeman County, Tennessee
9± acres in Hardeman County, Tennessee
58± acres in Hardin County, Tennessee
103± Acres in Calloway County, Kentucky

More details on the tracts, which will be auctioned by Roebuck Auctions on Thursday, October 27, is available HERE.

Date: Thursday, October 27, 2011 at 6:07 p.m. CDT

Location:
Selmer Airport Hanger (SZY)
2282 Airport Rd
Selmer, TN 38375

Roebuck Auctions
(901) 763-2825

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Duke Energy Makes Major Investment in GreenTrees

Eddie Lee — Tue, 23 Jun 2009 16:10:58 +0000

Duke Energy has become the lead investor in GreenTrees, a privately managed forest restoration program created and managed by C2I for landowners in the Lower Mississippi Alluvial Valley: Illinois, Missouri, Kentucky, Tennessee, Arkansas, Mississippi, and Louisiana.

This enormous valley once held 24.7 million acres of forest and emergent wetlands. Today more than 18 million acres – or 80 percent – has been cleared, resulting in the loss of critical natural habitat.

The program is expected to generate high-quality, verifiable carbon offsets that Duke believes will help reduce the overall cost of compliance with federal climate change legislation. Duke’s initial investment will result in the planting of more than 1 million trees on approximately 1,700 acres in Arkansas.

GreenTrees is designed to create, enhance, and sustain conservation and wildlife benefits from afforestation. GreenTrees provides landowners the most economic and environmental value for each acre of trees planted. The program utilizes a specific inter-planting of 302 cottonwoods plus 302 mixed hardwoods per acre. The specific design of 302/302 delivers more conservation value, more carbon, and better sustainable hardwood revenues than a previous design of 302 cottonwood and 151 hardwoods.

In exchange for the landowners’ long-term lease to prevent reversibility, GreenTrees offers a variety of short and long-term income opportunities. Landowners can simultaneously enroll the same qualified acres into GreenTrees, CRP, and other conservation practices, thus receiving multiple financial incentives and incomes together.

GreenTrees was founded by Izaak Walton League of America board member Carey Crane and Texaco Chevron Conservation Award recipient Chandler Van Voorhis. Both men have received great inspiration from Crane’s mother, Maggie Bryant. Bryant is a past-two term Chairperson of the National Fish and Wildlife Foundation and retired from her board position in 2001. She has been awarded the prestigious Chevron Conservation Award as well as the Governor’s Award for Conservation in Mississippi, and she continues to be active in conservation measures around the world.

Landowners are enthusiastic about GreenTrees. Arkansas landowner Brandon Stafford is a recent enrollee. Stafford found himself with 210 acres of un-irrigated farmland that he had to do something with. He enrolled it in CRP and GreenTrees. After the initial planting and subsequent sprayings Brandon says, “It’s amazing what the trees are doing.” The CRP and GreenTrees programs work in concert for him. Currently over 2,500 acres from 20 landowners are enrolled in the program.

To learn more about GreenTrees, visit their website: www.green-trees.com.

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Sold! $50 Million of Recreational Land at Midwest Auction

Eric OKeefe — Mon, 17 Nov 2008 07:00:52 +0000

These days investing in the stock market is not for the faint of heart, and in markets from coast to coast thousands of developer-owned condos now sit vacant. But when it comes to land, there’s no shortage of motivated buyers. That’s the takeaway from a three-day auction of hunting and recreational tracts that grossed more than $50 million earlier this month.

“The first two days were standing room only. Small buyers emerged as winners,” said R.D. Schrader of auctioneer Woltz & Schrader, who added, “the prices met and exceeded our expectations.” In the first day’s auction, which took place in French Lick, Indiana, 9,426 acres sold for $15.78 million ($1,674 per acre) to 72 different buyers. The second day’s auction took place in Brandenberg, Kentucky. A total of 5,994 acres sold for $10.243 million ($1,708 per acre) to 15 buyers. A superior hunting tract in Union and Crittenden counties in Western Kentucky was the sole lot on day three. The 11,776-acre Sturgis property sold to a North Carolina TIMO for $24.583 million ($2,087 per acre).

The auction featured undeveloped land holdings and timberland in Indiana and Kentucky belonging to Kimball International (NASDAQ: KBALB), a furniture and electronics manufacturer. Kimball began acquiring properties in 1963 as a strategic reserve of its primary raw material: wood. Earlier this year the company’s board of directors recognized the assets as non-essential, and hired Woltz & Schrader to administer the sale.

“We had strong turnouts of more than 200 bidders every day with a few bidders seeking large combinations of acreage and a lot of smaller bidders interested in smaller amounts of land for hunting or personal use,” said company president Rex Schrader.

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Sheikh Mohammed Buys Kentucky’s Stonerside Stable from Houston Texans Owner Bob McNair

Eric OKeefe — Fri, 19 Sep 2008 21:59:05 +0000

The royal family of Dubai expanded its massive holdings in the heart of Kentucky Bluegrass country by 2,000 acres this week when it acquired Stonerside Stable from Bob McNair, owner of the NFL’s Houston Texans. Other assets included in the sale, which closed on Monday, were 80 racehorses, 170 broodmares, yearlings, and weanlings, and a training center in Aiken, SC. Terms were not divulged, but local brokers value the land, which is located in the heart of the state’s best Thoroughbred country, at $20,000 to $25,000 per acre. A ballpark estimate before improvements and bloodstock would put its value at $40 million to $50 million.

The Maktoum family has long been recognized as owning the world’s winningest Thoroughbred stable, Godolphin Racing, which has won 142 Grade One races worldwide. They market their stallions through a second entity, Darley Stud, and Stonerside will be incorporated into the latter. This latest acquisition becomes the fourth horse farm the Maktoums now own in Kentucky and brings their holdings to almost 10,000 acres, by far the largest family-owned block.

According to the Thoroughbred Times, the Maktoums purchased the McNair’s upstate New York farm and training facility outside Saratoga Springs for $17.5 million January 2007.

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