Gladstone Land Corporation completed the acquisition of 479 gross acres of farmland in Kern County from King and Gardiner Farms, LLC and Gardiner Family, LLC for $14.8 million.
August 23, 2021
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Gladstone Land Corporation (NasdaqGM:LAND) agreed to acquire 479 gross acres of farmland in Kern County from King and Gardiner Farms, LLC and Gardiner Family, LLC for $14.8 million on January 27, 2021. In related transactions, Gladstone Land Corporation agreed to acquire other farmland in Kern County from King and Gardiner Farms, LLC and Gardiner Family, LLC. The acquisition of the Property is subject to customary terms and conditions and termination rights for transactions of this type, including a due diligence inspection period for Gladstone Land Corporation. The transaction is expected to close with the first phase expected to close during the three months ending June 30, 2021, and the final phase completed by the three months ending December 31, 2021.
Gladstone Land Corporation (NasdaqGM:LAND) completed the acquisition of 479 gross acres of farmland in Kern County from King and Gardiner Farms, LLC and Gardiner Family, LLC for $14.8 million on August 24, 2021.
Gladstone Land Corporation is a real estate investment trust that acquires and owns farmland and farm-related properties located in various agricultural markets in the United States. The Company owns around 168 farms, comprised of 112,000 acres in 15 different states and 46,400 acre-feet of water assets in California. Its farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables. It also owns farms growing permanent crops, such as almonds, apples, cherries, figs, lemons, olives, pistachios, and other orchards, as well as blueberry groves and vineyards. Approximately 30% of the Company's fresh produce acreage is either organic or in transition to become organic, and over 20% of its permanent crop acreage falls into this category. The Company may also acquire property related to farming, such as cooling facilities and processing buildings, among others. Its adviser is Gladstone Management Corporation.
Gladstone Land Corporation completed the acquisition of 479 gross acres of farmland in Kern County from King and Gardiner Farms, LLC and Gardiner Family, LLC for $14.8 million.
GLADSTONE LAND CORPORATION 
