Since listing in April with a portfolio of 7,300 acres, U.S.-based Farmland Partners, which buys farmland it then rents back to farmers to gain from both rent and appreciation, has bought more than 20,000 acres for more than $50 million. The latest acquisition in the string of purchases consists two farms totaling 2,130 acres in Nebraska and Louisiana for $10.7 million. The group, which announced in July its goal of purchasing $100 million worth of farmland, has spent $52.3 million to date averaging $2,500 per acre. This purchase represents the group’s first land purchase in Louisiana which the group states will ‘expand its portfolio’s crop capabilities in rice and cotton.’
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