DENVER–(BUSINESS WIRE)–Farmland Companions Inc. (NYSE: FPI) (the “Firm” or “FPI”) on Wednesday accomplished its seventh farm acquisition of the 12 months when it bought 838 acres of Nebraska farmland for $11.6 million.
The row crop farm is the Firm’s first in Hamilton County, which sits in the midst of a fertile seed corn manufacturing space and is understood for good soils and water availability. The farm consists of 9 particular person tracts with a number of enhancements, together with irrigation, a grain storage system, and ample tools storage. The acquisition additionally encompassed a home, workplace constructing, and heated store.
“It is a turn-key operation and is among the many nicest properties in our portfolio,” stated FPI Chairman and CEO Paul Pittman. “We’ve got a superb tenant in place and are trying ahead to a brilliant future in Hamilton County.”
FPI now owns 31 farms in Nebraska, spanning 7,216 acres. It’s the nation’s largest publicly traded farmland REIT by U.S. acreage.
About Farmland Companions Inc.
Farmland Companions Inc. is an internally managed actual property firm that owns and seeks to amass high-quality North American farmland and makes loans to farmers secured by farm actual property. As of the date of this launch, the Firm owns and/or manages practically 185,000 acres in 18 states, together with Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, South Carolina, and Virginia. We’ve got roughly 26 crop varieties and greater than 100 tenants. The Firm elected to be taxed as an actual property funding belief, or REIT, for U.S. federal earnings tax functions, commencing with the taxable 12 months ended December 31, 2014. Further info: www.farmlandpartners.com or (720) 452-3100.
Ahead-Wanting Statements
This press launch contains “forward-looking statements” throughout the that means of the federal securities legal guidelines, together with, with out limitation, statements with respect to anticipated yields on acquired farmland, our outlook, proposed and pending acquisitions and inclinations, the potential affect of commerce disputes and up to date excessive climate occasions on the Firm’s outcomes, financing actions, crop yields and costs and anticipated rental charges. Ahead-looking statements usually might be recognized by means of forward-looking terminology akin to “might,” “ought to,” “may,” “would,” “predicts,” “potential,” “proceed,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” or related expressions or their negatives, in addition to statements in future tense. Though the Firm believes that the expectations mirrored in such forward-looking statements are based mostly upon affordable assumptions, beliefs and expectations, such forward-looking statements should not predictions of future occasions or ensures of future efficiency and our precise outcomes may differ materially from these set forth within the forward-looking statements. Some components that may trigger such a distinction embody the next: common volatility of the capital markets and the market worth of the Firm’s frequent inventory, modifications within the Firm’s enterprise technique, availability, phrases and deployment of capital, the Firm’s potential to refinance present indebtedness at or previous to maturity on favorable phrases, or in any respect, availability of certified personnel, modifications within the Firm’s trade, rates of interest or the final financial system, antagonistic developments associated to crop yields or crop costs, the diploma and nature of the Firm’s competitors, the timing, worth or quantity of repurchases, if any, beneath the Firm’s share repurchase program, the power to consummate acquisitions or inclinations beneath contract and the opposite components described within the part entitled “Danger Elements” within the Firm’s Annual Report on Type 10-Okay for the 12 months ended December 31, 2021, and the Firm’s different filings with the Securities and Alternate Fee. Any forward-looking info introduced herein is made solely as of the date of this press launch, and the Firm doesn’t undertake any obligation to replace or revise any forward-looking info to mirror modifications in assumptions, the incidence of unanticipated occasions, or in any other case.