Gladstone Land Corporation: Gladstone Land Announces Large Farmland Acquisition in California
MCLEAN, VA / ACCESSWIRE / December 17, 2020 / Gladstone Land Corporation (NASDAQ:LAND) ( Gladstone Land or the Company ) announced that it has acquired 4,642 acres of farmland located in Tulare County, California, for $61.5 million. The farm includes nearly 3,000 planted acres of almonds, pistachios, and both conventional and organic pomegranates. In connection with the acquisition, Gladstone Land entered into a 10-year leaseback agreement with the seller. Today, we are extremely excited to announce our first acquisition in Tulare County, California, said Bill Reiman, Executive Vice President of Gladstone Land. The addition of this farm is a good example of one of our typical sale-leaseback transactions. We are adding a very large block of premium farmland and gaining one of the best operators in the southern San Joaquin Valley as a tenant-partner. We are looking forward to many years
Gladstone Land Corporation: Gladstone Land Acquires Farmland in Coastal California
MCLEAN, VA / ACCESSWIRE / December 16, 2020 / Gladstone Land Corporation (Nasdaq:LAND) ( Gladstone Land or the Company ) announced that it has acquired 368 acres of farmland located in Ventura County, California, for approximately $20.8 million. Upon acquisition, Gladstone Land assumed a lease with a large farming operation growing a wide variety of fresh vegetables. We are excited to announce the addition of another quality farm in Ventura County, said Bill Reiman, Executive Vice President, West Coast Operations, of Gladstone Land. This acquisition is a fine example of our ability to continue adding valuable fresh produce farmland to our portfolio. We are gaining a prominent new tenant who has been in the fresh vegetable business for generations, and we look forward to further expanding our business with them in the future.
Gladstone Land Announces California Farmland Acquisition albuquerqueexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albuquerqueexpress.com Daily Mail and Mail on Sunday newspapers.
Gladstone Land Corporation: Gladstone Land Announces Expansion & Extension of Credit Facility
MCLEAN, VA / ACCESSWIRE / December 14, 2020 / Gladstone Land Corporation (NASDAQ:LAND) ( Gladstone Land or the Company ) announced that it, through one of its wholly-owned subsidiaries, has expanded its secured note purchase facility with Federal Agricultural Mortgage Corporation ( Farmer Mac ) (NYSE:AGM and AGM.A) from $125.0 million to $225.0 million and extended the date up to which the Company can issue new bonds to May 31, 2023. Bonds issued under this facility are secured by mortgage loans on agricultural real estate owned by the Company and have an effective loan-to-value ratio of up to 60% of the underlying agricultural real estate.