sacramento_river_ranch_brochure by Jim Gulsvig

RANCH REALTORS -

SPECIALIZING IN AGRICULTURAL REAL ESTATE SINCE 1947 www.stromerrealty.com

SACRAMENTO RIVER RANCH 3,580 ACRES, MORE OR LESS YOLO COUNTY, CALIFORNIA

Stromer Realty Company of California 591 Colusa Ave., Yuba City, CA 95991 Phone: (530) 671-2770 Fax: (530) 674-0651

591 Colusa Avenue Yuba City, California U.S.A. 95991 (530) 671-2770 Fax (530) 674-0651

ASKING PRICE AND POTENTIAL RETURN

Asking Price

II)

Potential Return:

$32,000,000 ($8,9381 acre)

A) 638 acres of walnuts: 2011 yield (approx.) Price per pound Gross Receipts Less Cultural Costs Net

1,700,000 lbs. $1.35 $2,295,000 $ 957,000 ($1,500/acre) $1,338,000

B) Row Crop Lease: Leased Acres Projected Rent

2,712 acres $ 678,000 ($250/acre)

Overall Net Return

$1,338,000 (walnuts) $ 678.000 (row crop) $2,016,000

C) Cap Rate on Asking Price:

$2,016,0001$32,000,000

6.3%*

(Cap rate calculated before real property taxes and other ownership costs)

*The potential returns are Stromer Realty's estimates only. These returns can vary greatly and each potential buyer should do their own due diligence studies.

...... .. .. .. .. . . ..... .. . ........... . .. . .. ... ......... . . . . . .. ..... . . .. ..

SACRAMENTO RIVER RANCH .. . ... . ... . ...... . . .. . . ...................... . .... . . ... .... .. . .. .. . .....

Sacramento River Ranch ("SRR") consists of over 3,580 acres (3,374 irrigated acres) of prime farmland along the Sacramento River in the Sacramento River Delta Region , eight miles northeast of Woodland in Yolo County. The farm includes significant water rights and irrigation infrastructure, allowing for the cultivation of a diverse range of conventional and organic row crops along with 638 acres of walnut groves. The farm has been professionally )

managed and recent restoration projects have yielded above average crop production and

) ) )

quality. With an ideal location and generous water rights, this farm offers an immediate cash flow opportunity and excellent long-term outlook.

.............. . .... . ................... . ... . ...

) ) )

) )

)

FARM SUMMARY

Location:

Approximately eighteen miles northwest of downtown Sacramento and two miles northwest of the Sacramento International Airport.

Acres:

3,580 gross acres. 3,373 acres irrigated farm acres (638 acres of walnuts, 624 acres of organic certified row crop, and 2,112 acres of conventional row crop).

Water Rights:

The entire ranch is covered by three senior surface diversion rights for the Sacramento River which are sufficient to irrigate the majority of all farm acres each year. As a complimentary source, the property has nine irrigation wells which can exclusively supply irrigation water for all farm acres.

Water Marketability:

The ranch contains approximately 7,094 acre-feet of surface water rights. The current owner successfully transferred 980 acre-feet through the 2009 DWR Drought Water Bank.

Irrigation System:

2,431 acres under flood irrigation. 585 acres of drip irrigation for row crops established in 2011 and 2012. 357 acres of solid set sprinkler irrigation for walnut orchards.

Soils:

80% of acres contain Class 2 soils; 18% are Class 3; 2% are Class 4.

Farm Management:

The walnut orchards are currently operated by the owner and the row crop land is leased under a crop share structure that can be assigned or terminated after the 2012 crop upon sale.

Improvements:

The property includes approximately 65,000 square feet of shop and storage space, a walnut hulling and drying facility, and four houses.

Encumbrances:

893 acres of row crop farmland are encumbered by Swainson's Hawk conservation easements. The easement prohibits permanent crop development and cultivation of certain row crops.

Accolades:

The ranch was highlighted as a Farm of the Future in 2010 by EcoAgricultural Partners for its success in combining wetland and habitat conservation with a profitable farm operation.

Zoning I Taxes:

Agriculture Exclusive Zone with 2011 Property Taxes totaling $92,021.

Reclamation District:

The Ranch is a member of Reclamation District 1600 which assessed at $12 per acre in 2011.

I r.

FAR;1 SU;IMARY

A. ACRES BY TYPE

Ashley Hartley Chandler Howards Mixed Pollinators

158 233 207 20 20

Conventional Organic

2.111 624

CURREl\T LEASE S'J'ln:Cn'RE

The majority of the row crop acreage (2,712Âą acres) is currently leased to a reputable farm manager under a crop share arrangement. The lease provides for growing a variety of crops including, tomatoes, alfalfa, rice, beans, sunflowers, corn, wheat, triticale, and safflower. All crop share percentages are in line with current market rates. This lease runs through the 2014 crop year and may either be terminated or assigned to the Buyer upon sale of the property, however the lease may not be terminated prior to harvest of the 2012 crop. The Lessee is allowed to sublease the property provided that subleases provide a market rents and 100% of rent from the subleases are passed through to the landlord. Expected crop share rent for the 2012 crop year is $250,350/acre.

ii.

FARM bIPRO\'EMEKTS / WATER INFIUSTRUCTURE

Drip irrigation acres and dates of installation

2011

75.0

2011

83.9

2011

92,9

R1B

2011

61.4

2011

57.4

2012

49,0

2012

81,2

2012

83.9

List of Wells

1 3 4 5 6 7 8 9 10

123448

150

N/A

33838 726662 49240 46834 46835 123447 33839

16 16 18 20 24 16 16

115 100 72 56 58 149 160

'Stationary motors used to pump on the PTO Heads are 175路200 HP,

4,656 1.500 2,400 1,000 2,000 2,000 2,000 2,500 2,833

125 60 125 PTO Head PTO Head PTO Head PTO Head 100 125

II.

FARM SUMMARY

FARM IMPRO VEMENTS / W ATER I N FR AS T RUC T U R E (Continued)

iv.

Map of Drip Irrigation legend

Field wI Drip Irrigation (established in 2011 )

Field wI Drip Irrigation (established in 2012) Other Fields (labeled by Field Name) Mrlallmgge

October 30 , 2011

Sac ramento River Ranch

Fields wilh Drip Irrigation

Map Created 04-04-20/2

Iii'

'c..JliIi In i ;n :

rna

; 73" H i JF . II.

F:\IDI SU"IMARY

2012 CROP MAP

legend

Field Boundary (labeled by Field Name and Crop Aerigl Image

October 30, 2011

Sacramento River Ranch

2012 Field Boundaries and Crop Types

Map Created 04-04-2012

II.

FARM SUMMARY

2012 SOIL M A P

, ,•

Custom Soil Resource Report

••

Soil Map

,.'"

' .000

2.000

~ .OOO

••

..,

•.

fUI

Map Unit Legend YOLO COUNTY, CALIFORNIA (CA113) Map UnK ~mbol

Ma Untt Name

La Lb Mp Sa Sc So Sf S5 Su Tb Te

lang sandy loam land sandy loam, deep Merritt complex, saline-alkali Sacramento slity day loam Sacramento clay Sycamore silt loam Sycamore sill loam, flooded Sycamore silty day loam Sycamore complex Tyndall very fine sandy loam Tyndall very fine sandy loam, deep Totals for Area of Interest

Ac.... lnAOL

Porcent of AO~

289.7 623.1 50.8 182.5 513.7 108.0 3.2 252.3 928.8 121.7 397.1 3,470.9

8.3% 18.0% 1.5% 5.3% 14.8% 3.1% 0.1% 7.3% 26.8% 3.5% 11.4% 100.0%

II.

2012 IRRIG ATIO N FA CILITIES MAP

F AR~ J S UMMARY

II.

FAR\J SUMMARY

FIVE YEAR CROP HISTORY

Native Grass Wheat Wheat

Native Grass Tomatoes

Wheat

Fallow Wheat

H1 H2

20.0 81.2

Native Grass Wheat

Native Grass Tomatoes

H3A H3B

76.6 80.0

Alfatfa

Alfatfa Alfalfa

Alfalfa Alfalfa

Sunflower

Wheat/Milo Rye Grass

Corn Irr. Hay

Rye Grass Rye Grass

Irr. Hay

Orchard Grass Orchard Grass

Wheat Wheat Oats

H4 H5 H6 H7 H8

92.9 83.0 134.8 147.1

Alfalfa Tomato Corn Corn Pasture Mix Tomato Tomato

Rye Grass Rye Grass Rye Grass Orchard Grass

H9 H10

83.9 75.0 85.8

Wheat

Orchard Grass Wetland Bank

H11 H12

98.7 74.0

Walnuts Walnuts

H13

34.5

Walnuts

118.4

Rice

B2 B3

Sunflower Rice

Alfalfa Rice

Rice Alfalfa

118.2 120.4 121.3

Wheat IAlfalfa

Alfalfa

R1 R1B

53.4 61.4

Alfalfa

Alfalfa Triticale

85.3

R3 R4 R4S

83.9 49.0 35.0

R5 R5B

57.4

Tomato

20.1 119.6 113.8

Walnuts Walnuts

R6 R7 R8 M4 M5 M6 M7 A1 A2 A3

103.5 54.5

Tomato Alfalfa Triticale Milo Milo

Walnuts Walnuts

Alfalfa Wheat Walnuts Fallow Triticale Walnuts Walnuts Walnuts Walnuts

Dryland Oats Walnuts Walnuts

Fallow Alfalfa Alfalfa Fallow Alfalfa Corn Walnuts Dryland Oats Alfalfa Walnuts

Irr. Hay

Walnuts Wheat Walnuts

Wheat

Fallow Fallow Fallow Fallow Fallow Fallow Walnuts Wheat Walnuts

Fallow Alfalfa Milo Alfalfa

Fallow Alfalfa Rice

Oats Walnuts

Wheat

Wheat Tomatoes Walnuts Oats Alfalfa

Alfalfa

Walnuts Beans Wheat Walnuts Walnuts Alfalfa Walnuts Walnuts

Walnuts

Walnuts Walnuts

Walnuts

Walnuts Fallow

Walnuts Wheat Alfalfa

Walnuts Wheat Wheat

Alfalfa

Wheat Oats Oats

105.5 82.0

Walnuts Wheat Alfalfa

Walnuts Tomatoes Alfalfa

80.0

Alfalfa

Alfalfa Alfalfa

184.9 181.4

Tomato

Corn/Grazing

Irrigated Hay

Alfalfa I Squash Alfalfa

Rye Grass Mix Alfalfa

Irrigated Hay

57.6

Irrigated Hay Irrigated Hay

200.0

Corn I Beans

Rye Grass

Irrigated Hay Irrigated Hay

Irrigated Hay

Walnuts

Oats Oats

III.

BUILDIKGS

Huller Shop Headquarter Shop Headquarter Silo Shop Headquarter N Silo Headquarter S Silo Northern Shop

FACILITY SU,IMARY

110 135 142 90 90 200

100 150 60 30 30 100

11,000 20,250 8,520 2,700 2,700 20,000

Walnut processing General shop use Equipment and hay storage Grain storage Walnut storage Equipment

HOUSES

Residence 1 Residence 2 Residence 3 Residence 4

40+ 30+ 40+ 40+

1,786 1,682 1,431 1,913

3 3 3

IV.

WATER Rl(;HT

WATER RIGIITS AND FACILITIES SCl\1l\L\RY

Every acre of the ranch carries one or more rights to surface irrigation water. The three main rights to surface water held by SRR are a Riparian Claim. Post-1914 Appropriative Water Rights, and a U.S. Bureau of Reclamation Settlement Contract. Below is a brief summary of each of these rights.

Riparian Claim The eXisting Riparian claim covers approximately 1,485 irrigated farm acres of SRR primarily located on the north end of the ranch. See attached for the map for the Riparian zone.

Post·1914 Appropriative Water Rights SRR owns a portion of five post·1914 appropriative rights with license numbers 1200, 9994. 9995. 9996, and 9997(the "Licenses"). A Joint Water Use Agreement was signed in July 2008 which specifies the division of these rights between the various land owners with interest in these licenses. The License area covers 1,816 acres of SRR and supplies up to 6,650 acre-feet to SRR annually. See the attached map for the license area place of use.

U.S. Bureau of Reclamation Settlement Contract A portion of SRR's Post 1914 Rights are subject to a Settlement Contract dated April 5, 2005 which covers 1,052± acres on the southern portion of the ranch. The annual base supply in the contract is 4,000 acre·feet in non-restricted years and 3,000 acre-feet in Shasta critical years. See the attached for a map of the Settlement Contract area. Since the Settlement Contract is overlaid on the Licenses. all water pumped under the. The majority of the ranch has access to ground water for supplemental irrigation. via its ground wells and water conveyance facilities.

Water Conveyance Facilities SRR has six working river pumps and nine working ground wells specked for agricultural irrigation. The SRR irrigation system is set·up to irrigate all acreage owned by SRR from river pumps that pump water then distributed throughout the property through an improved canal system. For a back·up source of water. SRR has the ability to distribute water out of canals that run from the Yolo Bypass into the property. The back·up water source has its origin at the Knights Landing Ridge Cut and is then diverted to the property from the Wallace Weir. This is only an alternative source for water in the event of a river pump failure or another cause that would lead to the system needing to use the canal entering the property from the Bypass. The Bypass sourced water is not an additional water right.

IV.

W ATER RI G H T

A. 2009 W AT ER TR ANSFER

SRR participated in the 2009 Drought Water Bank implemented by the California Department of Water Resources. The Bank was active in the months of July, August, and September in 2009 and during those months SRR sold 980 acre-feet of surface water rights to downstream users. Water was made available by SRR through two methods, ground water substitution and crop idling. The 858 acre-feet of supply that was sold via ground water substitution was created by shutting off river pumps and irrigating crops with ground water. The 122 acre-feet of supply Ihal was sold via crop idling was created by idling a field for the 2009 crop year and claiming the difference in river diversions between idling and cultivating that acreage. The surface water right that was temporarily transferred in 2009 was one of SRR's Licenses for Post-1914 Appropriative Rights granted by the State Water Resources Control Board. Three wells on the property (GW 1, GW 9, and GW 10) were accepted by the Department of Water Resources for ground water subslitution and were used in the 2009 transfer. More detailed information on the 2009 transfer or the marketability of SRR's water rights can be given upon request.

M AP OF WATER RI GHTS BY TYPE

PO'l路'~l ' A.pptop< .. ' .. ...... ,,' R'9

Po.l路 191.l<pproP''"'" ...... ,,' R,~ USBR sore ...... ", ConlroCl Fi_

acramenlo Rh,tr Ranch Mllp ('t'(I,u,IOJ.(N_}OI}

V. L OCA TI O '

LO CATI ON I N FO

Driving distance to Sacramento River Ranch from the following cities: Sacramento, CA: 17.6 miles Woodland, CA: 12.6 miles San Francisco, CA: 93 miles

LO CATIO N M A P

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VI.

SWAINSON'S H AWK EA S EMENT S

SW A I NSON'S H AW K EA S E MEN T S

893 acres of the property, shown in the attached map, is encumbered by Swainson's Hawk easements. The easements restricts certain uses of the fee simple estate. In general, below are the restricted uses of this acreage.

• Planting and cultivation of vineyards, orchards, cotton and rice is prohibited. • Planting and cultivation of corn and safflower is permitted only as part of a crop rotation. • Construction of paved roads and buildings not directly related to the agricultural use of the property are prohibited. • Most commercial and industrial uses not related to the farmland production are prohibited .

......

Field Boundaries (labeled by Field Nam a)

Swalnson's Hawk Easement.

"'''''''''''1

October 30, 2011

CIl

Sacra m('nlo River Rlll1c h

Areas EnCUII\b<:rcd by S\\'3illson's ~1 3Wk Ea semenls

Map C,.c/IIed04-04-20/2

VII.

PROPERTY TAX EXPE0:SE

PROPERTY TAX SU:lIMARY

057-030-003-000 057-030-006-510 057-030-008-000' 057-050-002-000 057-050-003-000 057-060-002-000 057 -060-003-000 057-060-005-000 057-060-007-000' 057-110-001-000' 057-030-005-000 057-030-009-000 057-040-001-000 057-040-002-000 057-050-001-000

0 230 640 172

134,185 5,263 245,075 1,177,853 524,615

58 2,644 13,198 5,681

186 100 356 405 63 64 9 75 585 498

215,576 131,199 736,417 575,095 407,358 125,357 886,868 218,767 1,563,694 1,059,575

2,518 1,536 8,324 6,540 4,444 1,422 9,527 2,342 16,780 13,299

, Lot line adjustments were performed on the APNs and assessements haven't been issued for the new parcel configuration. Net Assessement and Tax Expense for these parcels is pro-rated for the portion of the old parcel that is included in the new parcel.

T. IIN.

1:1

i'r 35

£ £

T. ION .

CJA L 2

3D /

/ 35

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California Revised Storie Index (CA)-8utter County, California , and Yolo County, California

38" 4 7' 18"

38" 4 7' 16"

38" 43' 40"

38" 43' 3T'

Map Scale: 1:32,100 if printed on A si ze (S.S"x lli sheet.

A USDA

= -

Meters

O:â&#x20AC;˘. . . .3~O~O==~60~O~. . . . . . .1~.2~O~O======~';; ,SOOFeet

1,000

Natural Resources Conservation Service

2.000

4,000

6,000

Web Soil Survey National Cooperative Soil Survey

8/24/201 1 Page 1 of4

California Revised Storie Index (CA)-Sutter County, California, and Yolo County, California

California Revised Storie Index (CA)

California Revised Storie Index (CA)- Summary by Map Unit - Sutter County, California (CA101) Map unit symbol

Map unit name

Rating

164

Shanghai silt loam, clay substratum, frequently flooded, 0 to 2 percent slopes

Grade Three Fair

177

Water

Not Rated

I ~

Component name (percent)

0.0%

Water (100%)

3.1

0.1%

3.2

0.1%

4,018.9

100.0%

California Revised Storie Index (CA)- Summary by Map Unit -

LJSDA

'-ee;;

Map unit name

Rating

Percent of ADI

0.1

Totals for Area of Interest

Shanghai, clay substratum, frequently flooded (90%)

Subtotals for Soil Survey Area

Map unit symbol

Acres in ADI

Yolo County, California (CA113)

Component name (percent)

Acres in ADI

Percent of ADI

Lang sandy loam

Grade TwoGood

Lang (85%)

261.9

6.5''10

Lang sandy loam, deep

Grade TwoGood

Lang (85'%)

660.1

16.4%

Merritt complex, saline-alkali Grade FourPoor

Merritt (60%)

63.0

1.6%

Sacramento silty clay loam

Grade Three Fair

Sacramento (85%)

224.7

5.6%

Sacramento clay

Grade FourPoor

Sacramento (85%)

577.9

14.4%

Sacramento soils, flooded

Grade Three Fair

Sacramento (85%)

1.3

0.0%

Sycamore silt loam

Grade TwoGood

Sycamore (85%)

234.3

5.8'%

Sycamore silt loam, flooded

Grade Three Fair

Sycamore (85%)

114.2

2.8%

Sycamore silty clay loam

Grade TwoGood

Sycamore (85%)

354.4

8.8%

Sycamore complex

Grade TwoGood

Sycamore (60%)

959.4

23.9%

Grade TwoGood

Sycamore (60%)

21.4

0.5%

Merritt (30%)

Sycamore (30%)

Sycamore complex, flooded

Tyndall very fine sandy loam Grade Three Fair

Tyndall (85%)

120.1

3.0%

Tyndall very fine sandy loam, Grade Three deep Fair

Tyndall (85%)

398.1

9.9%

Water

Water (100%)

25.0

0.6%

Subtotals for Soil Survey Area

4,015.7

99,9%

Totals for Area of Interest

4,018.9

100.0%

Natural Resources Conservation Service

Not Rated

Sycamore (25%)

Web Soil Survey National Cooperative Soil Survey

8/24/2011 Page 3 of 4

VII.

OF THE FUTURE

FARM S OF TH E FUTURE

S«rtIIrItlIt" #{I;w x..",-h , ~ or/Jon .. Calr""'" "'1.-~"'tIs ..... ' II"ml,",11 W1~'(\l!OIN IlI1J nr,I.,,,.~·,oI '1"",·,."lh"'lI rI,;y,I-i/ic.lll>:rr, NII ......IImtdKffTV :-:!~f,.II"J / 01....1/ ks, ;/Bh~" IN ( ..!tor, U ·~/ ... hl~...t Ih.: ' ,..u,,~.,rJ !OjY<'" ,1<1 p",:otJt1/ frtnm"t.'C'ri fo, In,,k>I''''s I" oJ.(r<.-/ IhrJ... ,nutlt'11 oj mhcIlIJudo'I.lt.,.. ~"Jln ..: nrJlls

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Sacramento River Delta Sa(r~m~mo RIver R.lnch ,\ IOCillcd In 'he Sa(r~mcnIO R,~, Ocll~ Reg'on. which in 2009 was de<:la,ed by Ame"un Riv<!'l\O be the nallon's moS! endangered wau.',way duc \0 Will~ sllort.lgcs and watc, qUililY Issues caused by oycrul~ ind ag'ng flood coouolsyllems. MOle than SO'!Io 01 Yolo County Is dcdKau~d 10 ~"cuhufal U!;og<1. pi'cwnling an opPOlluMy 10 implOYe wall" q"",l'IY ilr>d b~lny through wr face watt'< 1i1"i1lOn. well.lndl "earlo<\, ¥\d ~es bankIng

Rlw, Ron,h {ul.ivo'n mOft .hon 0 thoUI/Hld oun of cropland ;ndudin9 whf!Qt 9,0!J /toy. olfollo. wnllowns, ond {0It1. 1,/X)Ooc'tS of woloo. arc/lo,dl cmd 6]2 o"n of argonic hoy crops _ fo'mtd. An on-Ii,. nu,>tty 10' fIQ,<W pIonu II 0/10 u~ /n ttllo,o'ion.

After Ag.kuitu.alland u ••• •

, 19 ocrt. of w~"ond. 01 .ht u>ulh~rn ."d of RN~' Rondo Wt,t c,f!Q.~d .o bt molnl,dn~ 01 0 we,/oMs bonA;, which

l",g~l<.'<I pa\lure"nd alfdlf~

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irrigalion wo •• , ond p,ovlclts wlldMe IIobl'Ol. Delftloptfs wilhin .h. So(romtn.o RIvt, WOltuhtd {on buy o"!~. dev~lopllltnl oct/vitln.

II 0'9inlc hay and COm

w~.londs {,~diu

~ Orchard (walnut/pecan)

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818 OC'~I of i"igottd p4i/U,t onrl !itld ('OPI OII/ht ptopt"y luppOlt fOlog;"g IIy Swo/nJOII~ Howl<. Th" O,ta gftWOltS ftvtnut /htough og'/cUlfU,o/ l4lts and ho/Jifof cttdiu U>Id dtllt/ofHn.

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Tht 1IO,.h~rn potT 01 tilt ptOptfty II 1I"I<m09~ os 11. oc,.. 01 ,ipo,ion /Iobi/ot 10' 1M Vo1ltr fld ttbtfl),

longhorn 8~~ff~. (t~diu lot tndan9~,td spt(/fs hobi.ol o,e telroltd 101 solt In Inrt,volJ ovt, 0 ~vt 1"" p~tiDri wlljn:t to plonr lu,vivol tor~ •.

Before

R;vt' ROllch lIIon0ges a two milt mlrch (96 OCltS) of "o.urolly o(Cutting fIoodp/O/II "/e,,,g Iht Soctomtnro RNt, 01 fM lim Fed~fQlly opp,olftd COMt,vol;"n bomk fo, tndollgtr~ ond fhrrot~ntd ... ,,"on onrl ll~od. ; ; ~monid hablM.

Farm Revenue Sources {Gross)t Average 2008·2009

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