TFC Ranch

1,974.12 +/- gross assessed acres located San Joaquin County | 44 Legal Parcel Lots (49 of 57 sale APNs) | +/- 98% of the Property Enrolled in
Williamson Act Contracts. | Surrounding land uses include winegrapes, olive, almond, walnut, and stone fruit orchards, and irrigated row crops.
1,316.85 +/- planted vineyard acres | 429.99 +/- acres of irrigated row crop land | 227.28 +/- acres of supporting and ancillary land
Planted winegrape varietals include: Chardonnay 661.56 Acres (50%) | Zinfandel 277.39 Acres (21%) | Merlot 259.57 Acres (20%) | White Riesling 60.29 Acres (5%) | Touriga Nacional 29.32 Acres (2%) | Viognier 28.73 Acres (2%)
Planting dates range from 1988 to 2022, with approximately 25% planted between 2018-2022.
The young vineyard plantings (2018-2022) produced 2023 yields ranging from 8.13 to 10.04 +/- tons per acre. Winegrape yields averaged approximately 7.37 tons per acre from 2017 to 2023 (weighted average) for the 1988-2007 plantings, with 2023 yields ranging from 6.71 to 10.35 +/- tons per acre.
The entire Property (vineyard/irrigated row crop land) is leased through 2024. Creekside 2, 3, and 4 (445.05 +/- net vine acres) are leased triple net through 2039. Creekside 1, 2, 3, and 4 (1,316.85 +/- vine acres) receive an annual 20% crop share of gross crop revenue.
+/- 83% of the vines on the TFC Ranch are currently contracted through 2024 at $350-$625 per ton, of which +/- 17% is contracted through 2025-2028 at $600-$625 per ton.
Multiple-source irrigation water is currently supplied to select portions of the TFC Ranch via a combination of surface water deliveries (Riparian & Pre-1914 Water Rights) from Hog Slough, and 7 operating agricultural groundwater wells pumping at a combined flow rate of 6,251 gallons per minute (per 2023 pump tests). Four lift pumps (one for Hog Slough, three for on-site canals/ditches) provide a combined flow rate (per 2023 pump tests) of approximately 9,541 gallons per minute (“GPM”).
A majority of the Property is located within the boundaries of the Woodbridge Irrigation District (“WID”). Seller is currently paying standby/recharge district fees for 1,299.07 +/- gross acres within the WID (+/- 66% of the Property and +/- 88% of the vineyard).
The Property lies within the boundaries of the Sustainable Groundwater Management Act (“SGMA”) Bulletin 118 Groundwater Basin/Subbasin “5-022.01”, Sacramento Valley Basin, Eastern San Joaquin Subbasin. Portions of the Property are managed by either the Woodbridge Irrigation District Groundwater Sustainability Agency (“GSA”), the Central Delta Water Agency GSA, or the San Joaquin County No. 1 GSA. The Eastern San Joaquin Groundwater Authority (”ESJGWA”), formed in 2017 in response to SGMA, is composed of 16 GSAs (including the 3 Property managing GSAs). The ESJGWA’s Groundwater Sustainability Plan (“GSP”) dated November of 2019 and revised in June of 2022 was approved by the DWR in July of 2023.
Purchase Price: $42,500,000 ($21,529 per gross acre) all cash at the close of escrow.