DENVER, CO - In the company’s Q4 2015 financial report, Farmland Partners Inc. has revealed it is has officially closed deals on 25,057 acres of farm land in four states for an aggregate purchase price of $205.9 million.
The company’s new land includes the acquisition of 121 farms, located in Georgia, Michigan, Texas, and Illinois.
“By entering into four new states, acquiring our first permanent crop farm, increasing our tenant base, and starting other initiatives, we continued a growth trajectory that we believe has made us one of the largest landowners in the United States," said CEO Paul Pittman in a press release.
Also in Farmland Partner's report was the purchase of three farms in Georgia in the fourh quarter, totaling 1,367 acres for a total of $4.9 million.
Expected to close in the first quarter 2016, the company has announced it will acquire an additional two farms in Georgia and Illinois totaling 248 acres for $1 million, and has contracts to buy three more farms in Illinois and Georgia totaling 567 acres for an aggregate purchase price of $2.2 million.
The company says its portfolio now includes 258 farms with a total of 108,163 acres (including five farms totaling 8,591 acres under contract) in Arkansas, Colorado, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, Texas, and Virginia.
