Published:
Views: 2443

Farmland Partners to Purchase Eight Row Crop Farms

Farmland Partners Inc. (NYSE: FPI) will acquire 15,042 acres of farmland in North Carolina, South Carolina, and Virginia for $49.8 million in cash and 2,981,971 shares of the company’s stock as well as units of limited partnership interest in the

RowCrop_lg
Farmland Partners Inc. (NYSE: FPI) will acquire 15,042 acres of farmland in North Carolina, South Carolina, and Virginia for $49.8 million in cash and 2,981,971 shares of the company’s stock as well as units of limited partnership interest in the company’s operating partnership. The acquisitions are expected to close in May 2015 subject to customary closing conditions. “This agreement marks our largest acquisition to date,” says CEO Paul Pittman. “It is our second sizable transaction in the Southeast, following our acquisition of approximately 6,800 acres in South Carolina in December, and will expand our geographic footprint to include two new states – North Carolina and Virginia.”

Since its initial public offering in April 2014, FPI has developed a portfolio that includes 93 farms with approximately 49,346 acres in Arkansas, Colorado, Illinois, Louisiana, Mississippi, Nebraska, and South Carolina, as well as grain storage facilities in Arkansas, Colorado, Illinois, and Nebraska. According to the company’s corporate profile, “The substantial majority of the farms in our current portfolio are devoted to primary crops, such as corn, soybeans, wheat and rice, because we believe primary crop farmland is likely to provide attractive risk-adjusted returns over time through a combination of stable rental income generation and value appreciation.”

Posted in Agriculture, Alabama, Arkansas, Farming, Feature, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, News Desk, North Carolina, South, South Carolina, Tennessee, Virginia, West Virginia

EMAIL SIGNUP

Please sign me up to receive breaking news and updates from the Land Report!

Latest Tweets

News By Region

The Land Report | 2018 America's Best Brokerages
The Land Report is proudly partnered with:
Land Leader
Hall and Hall
Bates Land Consortium
Mossy Oak Properties
United Country Real Estate
Live Water Properties
Fay Ranches Inc.
Mirr Ranch Group
californiaoutdoorproperties.com
Whitetail Properties
Western Ranches
TerraStone Land Company
Hayden Outdoors Real Estate
LandAndWildlife.com
Pacific West Great Plains Great Lakes Midwest Southwest South Northeast Pacific West Great Plains Great Lakes Midwest Southwest South Northeast