Colorado Farm & Ranch Land Sells for $10.14 Million at Auction

The 8,735± acre Bowen Arrow Farm and Ranch sold at auction on October 19th, fetching a total of $10,140,000.  The property, spread throughout eastern Colorado with 4,470 acres located in Adams County, 1,025± acres in Weld County and 3,240± acres Washington County, was offered in 26 separate tracts. Competitive bidding took place with over 200 people in attendance and 73 registered bidders. Eight buyers purchased tracts for a total sale price of $10.14 million.

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The sale generated interest from 37 different states and six countries. Sale prices ranged from $616 per acre on Washington County grassland to $1,750/ac on Adams County dryland. Smaller 40-acre parcels fetched as high as $2,375/ac before becoming combined with larger offerings. Bidders stayed engaged and active throughout the auction with the largest combination consisting of 3,680± acres prevailing at $1,359/ac. Six of the eight winning bidders were single tract purchasers. Several farmers and ranchers were able to add to existing holdings.

Call Scott Shuman, Head of Hall and Hall Auctions, with questions – 800-829-8747

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Colorado Land & Water Auction Rakes in $12.6 Million

The auction of a family-owned farm near Mead, Colorado raked in $12.6 million Thursday, July 28th as farmers, developers and five cities bid for land and the attached water and ditch rights. Below are excerpts from the Denver Post article reporting the sale.

The auction was packed with bidders, and 13 emerged with a piece of the Reynolds family portfolio. Municipalities, developers and farmers all grabbed units of Colorado-Big Thompson water (CB-T), while developers and growers signed deals for land.

The auction was of high interest, given the land’s location in the path of northern Front Range development and the large amount of water attached to it.

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Hall and Hall Auctions partner Scott Shuman said 276 CB-T units brought in the largest chunk of money, about $7.6 million or an average of $27,356 each. The CB-T units, already trading for high sums, were expected to be the most pricey given their given their scarcity and the ability to use the water for uses such as agriculture, development and industrial processes, including oil and gas extraction.

But on a per-share basis, the 15.75 Highland Ditch shares stole the show, averaging $148,900 each for an estimated total of $2.3 million. All the shares were sold to farmers or investors.

Although CB-T water got most of the attention prior to the auction, Shuman said the ditch shares provide more acre-feet of water than CB-T and are not limited to a specific geography. CB-T water, which is conveyed from the headwaters of the Colorado River near Grand Lake, can be used only within the boundaries of the Northern Colorado Water Conservancy District.

The 461 acres of land averaged $6,970 each, bringing in roughly $3.2 million. At the last minute, 50 acres of land and two Highland Ditch shares were added to the auction.

 

Colorado Land and Water Unit Auction

Hall and Hall will be auctioning 411+/- acres of irrigated farmland, 276 Colorado-Big Thompson Water Units, and 13.75 Highland Ditch Shares on Thursday, July 28th at 10 a.m. at The Ranch in Loveland, CO. The property and water will be offered in 47 tracts & combinations ranging from four to 97+/- acres. Inspection dates are slated for Thursday, June 23rd, June 30th, & July 14th at Longs Peak Equipment on Hwy. 66 & I-25. To learn more, call Scott Shuman of Hall and Hall Auctions at 970-716-2120.

“The Colorado-Big Thompson Project provides supplemental water to many cities and towns for municipal, domestic and industrial uses, and is used to help irrigate approximately 640,000 acres of Northeastern Colorado farmland,” said Shuman. “Shares in the C-BT have mostly been acquired by fast-growing cities and energy companies, and leased back to farmers or others who seek to use it on a temporary annual basis. This is a great opportunity for an individual to purchase his or her own units, which have been a strong investment for many years.”

Also, included in the auction are 13.75 Highland Ditch Shares. These shares have become very sought after as they can be purchased by anyone and held as an investment. “Water in Colorado is the new gold,” said Shuman. “Seldom does an opportunity present itself where an individual can purchase this many shares of water at one time.”

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