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Farmland Partners to buy row crop farms in Nebraska and Colorado

Staff writer |
Farmland Partners has entered into separate purchase agreements to acquire three row crop farms in Nebraska and Colorado.

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The farms total 2,592 acres and were purchased for $16.6 million in cash, 63,581 shares of common stock and $2.7 million in units of limited partnership interest in Farmland Partners Operating Partnership, LP, the Company's operating partnership.

The company intends to sign lease agreements with the sellers or other third-party tenants.

"We are pleased to be able to increase our acreage in Nebraska and Colorado through deals involving cash and equity securities," said Paul Pittman, CEO of the Company. "The desire of the sellers, one of whom is an existing tenant, to take a stake in our Company is indicative of local farming communities' positive view of our value."

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