DENVER–(Business WIRE)–Jun 2, 2022–
Farmland Companions Inc. (NYSE: FPI) (the “Company” or “FPI”) on Wednesday completed its seventh farm acquisition of the 12 months when it procured 838 acres of Nebraska farmland for $11.6 million.
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Farmland Partners Inc.’s new farm in Hamilton County, Nebraska. (Photograph: Small business Wire)
The row crop farm is the Company’s 1st in Hamilton County, which sits in the center of a fertile seed corn production space and is regarded for fantastic soils and drinking water availability. The farm consists of nine person tracts with many improvements, which include irrigation, a grain storage system, and enough gear storage. The acquisition also encompassed a house, office creating, and heated shop.
“This is a convert-crucial procedure and is amid the nicest homes in our portfolio,” claimed FPI Chairman and CEO Paul Pittman. “We have an excellent tenant in location and are looking ahead to a bright foreseeable future in Hamilton County.”
FPI now owns 31 farms in Nebraska, spanning 7,216 acres. It is the nation’s largest publicly traded farmland REIT by U.S. acreage.
About Farmland Companions Inc.
Farmland Companions Inc. is an internally managed real estate enterprise that owns and seeks to receive higher-top quality North American farmland and helps make financial loans to farmers secured by farm actual estate. As of the date of this launch, the Company owns and/or manages almost 185,000 acres in 18 states, such as Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, South Carolina, and Virginia. We have approximately 26 crop sorts and a lot more than 100 tenants. The Enterprise elected to be taxed as a actual estate expenditure have confidence in, or REIT, for U.S. federal earnings tax uses, commencing with the taxable calendar year ended December 31, 2014. Further details: www.farmlandpartners.com or (720) 452-3100.
Ahead-Looking Statements
This press launch involves “forward-searching statements” inside of the this means of the federal securities rules, which include, devoid of limitation, statements with respect to anticipated yields on obtained farmland, our outlook, proposed and pending acquisitions and dispositions, the potential influence of trade disputes and current serious climate situations on the Company’s results, funding functions, crop yields and costs and anticipated rental premiums. Forward-wanting statements usually can be identified by the use of ahead-hunting terminology these types of as “may well,” “must,” “could,” “would,” “predicts,” “possible,” “keep on,” “expects,” “anticipates,” “upcoming,” “intends,” “options,” “thinks,” “estimates” or related expressions or their negatives, as well as statements in upcoming tense. While the Business believes that the expectations reflected in these kinds of ahead-hunting statements are centered upon acceptable assumptions, beliefs and expectations, this kind of ahead-hunting statements are not predictions of long run events or assures of long run overall performance and our real benefits could vary materially from those established forth in the ahead-hunting statements. Some things that might trigger these kinds of a variance incorporate the pursuing: typical volatility of the funds markets and the industry cost of the Company’s popular stock, variations in the Company’s organization strategy, availability, conditions and deployment of funds, the Company’s skill to refinance current indebtedness at or prior to maturity on favorable terms, or at all, availability of skilled staff, changes in the Firm’s field, desire charges or the normal financial system, adverse developments associated to crop yields or crop selling prices, the diploma and mother nature of the Firm’s competition, the timing, selling price or amount of money of repurchases, if any, beneath the Company’s share repurchase plan, the ability to consummate acquisitions or tendencies underneath contract and the other elements explained in the area entitled “Possibility Factors” in the Company’s Once-a-year Report on Variety 10-K for the 12 months ended December 31, 2021, and the Firm’s other filings with the Securities and Trade Fee. Any forward-on the lookout info presented herein is made only as of the date of this push launch, and the Enterprise does not undertake any obligation to update or revise any forward-searching details to mirror alterations in assumptions, the occurrence of unanticipated events, or or else.
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Speak to: Phillip Hayes
Keyword: UNITED STATES NORTH The usa NEBRASKA COLORADO
Marketplace Key phrase: Industrial Setting up & Actual ESTATE AGRICULTURE Design & Home Natural Sources FINANCE BANKING Qualified Solutions REIT
Resource: Farmland Companions Inc.
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PUB: 06/02/2022 07:10 AM/DISC: 06/02/2022 07:11 AM
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