Farmland Partners took above 20,000 acres, and $50m, its spending spree on land since it listed in April, buying three farms including in the Mississippi Delta, where it is reinforcing its buying efforts.
The US-based group - which buys land for renting out to growers, aiming to benefit from farm rents as well as market appreciation – said it paid $10.7m for two farms in Louisiana and one in Nebraska, totalling 2,130 acres.
The acquisition lifts to 20,900 acres the amount of land that Farmland Partners has bought since its stockmarket flotation in April with a portfolio of just 7,300 acres.The group - which during a fund raising from shareholders in July said it had its sights on $100m of land - has spent $52.3m on its acquisitions, working out at an average of $2,500 per acre.Delta forceFarmland Partners highlighted that the Louisiana purchases, its first in the state, would "strengthen our presence in the Mississippi Delta, one of the country's primary agricultural regions"....MORE
Previously:
"Half of U.S. Farmland Being Eyed by Private Equity"
TIAA-CREF Secures $1.4bn for Second Farmland Vehicle
Private Equity: Farmland/Ag Fund Seeks $250 Mil., Washington, Maine Pension Funds Say Okay
Real Estate Investment Trusts Down On The Farm: Farmland Partners Looks to Buy $100 Million Worth of Land (FPI; LAND)
If Farm Investing Conference Agenda Is Any Indication, Marijuana Prices Are Going to Zero "Half of U.S. Farmland Being Eyed by Private Equity"
TIAA-CREF Secures $1.4bn for Second Farmland Vehicle
Private Equity: Farmland/Ag Fund Seeks $250 Mil., Washington, Maine Pension Funds Say Okay
Real Estate Investment Trusts Down On The Farm: Farmland Partners Looks to Buy $100 Million Worth of Land (FPI; LAND)
Family Offices Showing Greater Appetite for Agriculture/Farmland Than Institutions
