Lazy TP Ranch Case Study

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A WESTERN RANCH BROKERS CASE STUDY

LAZY TP RANCH INFO@WESTERNRANCHBROKERS.COM | (406) 589-4160 | WESTERNRANCHBROKERS.COM

WESTERN RANCH BROKERS

LAZY TP RANCH CASE STUDY

LAZY TP RANCH Whitehall, MT | 10,906± acres | Offered @ $24.9M

Represented by the Western Ranch Brokers team of Bill Boyce and Caleb Campbell, Lazy TP Ranch came onto the market in September 2020 and sold just 6 months later in March 2021. Highly desirable for its size, location, and amenities, the property was offered at $24.9M—a top-tier price point—at a time when the ranch real estate market was filled with uncertainty.

Through best-in-class marketing materials, streamlined real-time communications, and a “get the deal done” approach, the Western Ranch Brokers team was able to help the sellers navigate the unknowns of the pandemic and quickly realize a successful sale.

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WESTERN RANCH BROKERS

LAZY TP RANCH CASE STUDY

OVERVIEW Located between Butte and Bozeman in Whitehall, Montana, the Lazy TP Ranch stretches over 10K acres in the Jefferson River Valley—a rare sizable contiguous landholding in Southwest Montana. Diverse in its landscape, and bordered by National Forest Service, the property has over 4 miles of the Jefferson River flowing through it, supporting plentiful wildlife and offering excellent hunting and fishing opportunities. Senior Jefferson River surface water rights irrigate more than 1,300 acres of the property with 13 pivots and 1 wheel-line.

The well-watered ranch produces 5,000 tons of hay annually, enough to support a cow/calf operation of 500-800 AU with excess to sell.

Suitable for running cattle or bison, the ranch has state-of-the-art handling facilities, and a feedlot for up to 1,800 head. Two modest homes, a horse barn, and a hunting camp complete the offering of this multifaceted ranch.

CHALLENGES Price Point.

The job is always easier when you’re selling a great property. Lazy TP Ranch had what buyers were looking for—an ideal location, lots of acreage, and strong operational and recreational attributes. The property was a quintessential Montana ranch listing but came with a substantial price tag of $24.9M, limiting the number of potential buyers and requiring the team to qualify each interested party before they could tour the ranch.

Timing.

The listing also hit the market in September 2020, not long after the COVID-19 pandemic began. Stock market volatility made buyers and investors cautious; business shutdowns created unforeseen delays; and in-person communications were limited at best. The timing was also not ideal for capturing photography and videography—key marketing tools— as the landscape in Montana in September begins shifting from green to brown during the Fall season. The ranch real estate market also tends to soften towards the end of the calendar year—as the prime selling season is typically during the spring and summer months.

Documentation.

As is often the case with a property of this sheer size and caliber, there was a sizable amount of due diligence that needed to be completed. From water rights to operational aspects, detailed documentation had to be collected, organized and communicated to multiple parties.

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WESTERN RANCH BROKERS

LAZY TP RANCH CASE STUDY

APPROACH Marketing Assets.

Seamless Process.

Detailed and personalized marketing materials were

Despite the complex nature of a working ranch of this

key in conveying the value of Lazy TP Ranch to potential

size, the transaction process was seamless—one of the

buyers. With the changing of the seasons imminent, it

reasons the sale was completed from start to finish in

was paramount to get photography of the ranch as soon

just 6 months. Transaction times for large ranches are

as possible. Leveraging our existing relationships with

typically a year or more, so getting a deal of this size

some of the best photographers and videographers in

done this quickly during a pandemic was not an easy

the business (and a little help from Mother Nature), we

task. We relied on our existing digital documentation

were able to capture and produce fantastic footage of

and communication processes as well as our high-

the Lazy TP Ranch in record time.

level organization of all the due diligence reports and legal documentation to keep things moving efficiently.

Telling the Story.

Lockstep communication with the buyer’s agent also

Selling a ranch of this size and caliber requires more

played a role in the ease of the transaction. Having a

than just beautiful imagery, it’s about communicating a

good relationship with the buyer’s agent and keeping

sense of place—telling the story of the ranch, its legacy

everybody on the same page helped us avoid any big

and its potential. Our in-house marketing team made

surprises or delays.

all the difference in creating compelling marketing materials and getting the word out quickly. Once the

Importance of Relationships.

listing hit the market, we were off to the races and found

Our relationship with the sellers was an important part

an interested buyer shortly after.

of this transaction as well. Western Ranch Brokers was selected to represent the Lazy TP Ranch thanks in part

Ranch Expertise.

to our connections within the Montana farm and ranch

The due diligence for the transaction was the next

community. It is always an honor when someone we

challenge. A ranch the size of Lazy TP has a lot of moving

know personally trusts us with something as important

parts, all of which need to be sifted through. The process

as passing on the legacy of their ranch. Keeping open

was made easier thanks to the boots-on-the-ground

lines of communication during a transaction, and

ranching experience of our team. There’s real estate,

being ready to pivot when necessary, has proved to be

and then there’s ranch real estate. Whether sitting

a rewarding strategy for the Western Ranch Brokers

down with the Ranch Manager to talk about current

team. This was especially true working through the sale

ranch practices or jumping on the phone with financial

of Lazy TP during the early months of the pandemic.

advisors, our team left no stone unturned during the

What could have been a complicated and challenging

due diligence process—keeping everybody informed

transaction was a smooth and efficient thanks to the

along the way. Understanding the inner workings of an

team’s willingness to do whatever was necessary to get

operational ranch provided the foundation for detailed

the deal done.

communications between the sellers and buyers. In the end, the buyers had a comprehensive understanding of the property, its amenities, and how to successfully manage it going forward.

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WESTERN RANCH BROKERS

LAZY TP RANCH CASE STUDY

K E Y R E S U LTS

Western Ranch Brokers was privileged to represent the sellers of Lazy TP Ranch as they passed their legacy on to new owners. Navigating a large transaction, especially so quickly and seamlessly within six months, couldn’t have been possible without our team’s expertise and dedication.

EACH RANCH AND CLIENT IS UNIQUE. WE GET TO KNOW THE PLACE AND THE PEOPLE — OUR PERSONALIZED APPROACH IS THE DIFFERENCE AT WESTERN RANCH BROKERS. When you list your property with Western Ranch Brokers, 50 years of ranch sales and transaction experience go to work for you. We listen and get to know you and your ranch, because every property is different.

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OUR EXPRIENCE

We are here to ensure you have a reliable, trustworthy, hard-working advisor when choosing to pass-on your ranch’s ownership. Our handshake is backed by a team of tireless professionals committed to your interests.

Contact us to find out how we can go to work for you.

Western Ranch Brokers

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LET OUR EXPERIENCE LEAD THE WAY Our team is small—on purpose. More isn’t always better when it comes to the number of agents in a brokerage—it’s the knowledge and experience that matter. Western Ranch Brokers works one on one with our clients—providing quality, personalized service directly from Jim Toth, Bill Boyce and Caleb Campbell. Our tailored approach delivers big results. ®

JIM TOTH Broker

BILL BOYCE Broker

CALEB CAMPBELL Broker

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