Gladstone Land agrees to 5 more farm purchases

|About: Gladstone Land (LAND)|By:, SA News Editor

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%.