Seeking Alpha

Gladstone Land agrees to 5 more farm purchases

  • The five farms total 3,552 acres and Gladstone Land (NASDAQ:LAND) has agreed to purchase them in three separate deals for a total of about $45M. Gladstone also has three more properties totaling about 2.3K acres for which it has signed non-binding letters of intent for about $39M.
  • The company hopes to close the deals over the next couple of months, and -should that happen - it would increase total acreage owned by more than 50%.
  • Press release
Comments (1)
  • indianrockAlpha
    , contributor
    Comment (1) | Send Message
     
    I just hope that they are not overpaying for the land, and many folks more knowledgeable than me feel that farmland is in bubble territory at this time.
    18 Aug 2014, 04:44 PM Reply Like
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