Realty Marketing/Northwest and Fay Ranches recently completed the second portion of a two-part, $18.5 million sale of a 32,475-acre timber and grazing property outside of Bend, Oregon. Known as Foley Butte Block, the contiguous block features abundant timber, numerous streams, and high-quality grazing.
John Rosenthal of Realty Marketing/Northwest represented the seller, Ochoco Lumber Co., and Jerry Hicks of Fay Ranches represented the buyer, Stafford Ranches. The complicated transaction was done in two parts, with 27 percent completed in 2013 and the remaining 73 percent completed in 2014. In addition to the usual complexities associated with the sale of such a large tract of land, Foley Butte Block required a 1031 exchange, a reverse 1031 exchange, a bridge loan, and the assignment of federal government releases as well as grazing rights.
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