Farmland Companions will increase its asset administration portfolio to over $ 50 million

DENVER, September 1, 2021 / PRNewswire / – Farmland Companions Inc. (NYSE: FPI) (the “Firm”) as we speak introduced that Promised Land Alternative Zone Farms I, LLC (“OZ Fund”) not too long ago closed a $ 29 million funding in a top quality farm in jap North Carolina. Together with enchancment tasks, the portfolio is now getting nearer $ 53 million. The North Carolina The farm was bought from a 3rd get together vendor and expands the OZ Fund’s portfolio to roughly 8,300 acres in 4 states.

“The OZ fund continues to develop and FPI is on the lookout for new asset administration alternatives”, commented Paul pittman, Chairman and Chief Govt Officer of the Firm. “We search to companion with sturdy, long-term buyers, leveraging our in-house sourcing, underwriting and shutting capabilities, to create worth for REIT shareholders by producing administration charges. “

REIT is the property supervisor of the OZ Fund. With the financing of this transaction, FPI elevated its stake within the OZ fund to roughly 10%.

About Farmland Companions Inc.

Farmland Companions Inc. is an internally managed actual property firm that owns and seeks to accumulate prime quality North American farmland and offers loans to farmers secured by farm actual property. As of the date of this launch, the Firm owns and / or manages roughly 166,000 acres in 16 states, together with Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, Caroline from the south, South Dakota and Virginia. We have now round 26 forms of crops and over 100 tenants. The Firm elected to be taxed as an actual property funding belief, or REIT, for US federal revenue tax functions, efficient the tax 12 months ended. the thirty first of December, 2014. Extra data: or (720) 452-3100.

Ahead-looking statements

This press launch contains “forward-looking statements” throughout the which means of federal securities legal guidelines, together with, with out limitation, statements concerning our outlook, proposed and ongoing acquisitions and divestitures, the potential influence of disputes buying and selling and up to date excessive climate occasions on the Firm’s outcomes, financing actions, crop yields and costs and rental charges. Ahead-looking statements can typically be recognized by way of forward-looking terminology resembling “may”, “ought to”, “may”, “would”, “predicted”, “,. “Anticipates”, “future”, “intends”, “plans”, “believes”, “estimates” or related expressions or their negatives, in addition to statements sooner or later. Though the Firm believes that the expectations mirrored in these forward-looking statements are based mostly on affordable assumptions, beliefs and expectations, these forward-looking statements usually are not predictions of future occasions or ensures of future efficiency and our precise outcomes may differ. considerably from these outlined in forward-looking statements. Components that would trigger such a distinction embody: common volatility in capital markets and the market value of the Firm’s widespread shares or Collection B collaborating most well-liked shares, modifications within the Firm’s enterprise technique, the supply, situations and deployment of capital, the power of the Firm to refinance current debt on or earlier than maturity on favorable phrases, or by no means, availability of certified personnel, modifications within the business of the Firm, rates of interest or the economic system typically, antagonistic developments referring to crop yields or costs, the diploma and nature of competitors from the Firm, timing, value or quantity of redemptions , the place relevant, throughout the framework of the Firm’s share buyback program, the power to hold out acquisitions or disposals beneath contract and the opposite components described in part in titled “Threat Components” within the Annual Report on Type 10-Ok for the 12 months ended December 31, 2020, and different paperwork filed by the Firm with the Securities and Change Fee. Any forward-looking data offered on this doc is made solely as of the date of this press launch, and the Firm assumes no obligation to replace or revise any forward-looking data to replicate modifications in assumptions, prevalence of unexpected occasions, or in any other case.


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SOURCE Farmland Companions Inc.

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