Arkansas River Farms LLC, an affiliate of C&A Companies and Resource Land Holdings LLC, has entered into a purchase and sales agreement with Pure Cycle Corp. to acquire 14,600 acres of farmland and water interests in the Fort Lyon Canal Company in Arkansas.
Funds from the sale will help Pure Cycle develop water and infrastructure from its Denver portfolio assets including its Sky Ranch property for which it is seeking a development partner with the expertise in bringing projects of its scope and scale to market.
C&A Companies, which has invested in agricultural projects in the Arkansas River Valley for 15 years, has also recently completed a forage assemblage of over 10,000 irrigated acres in a joint venture with Syracuse Dairy.
Denver-based Resource Holdings LLC had organized private equity funds with $550 million in committed capital and focuses on natural resources including agriculture, timber, and mining properties across the U.S. and Canada.
Arkansas River Farms will have a due diligence period of 60 days, and closing on the deal is scheduled to occur by mid-June 2015.
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