January 3, 2017 / 9:29 PM / 8 months ago

BRIEF-Gladstone Land acquires farmland in Colorado

Jan 3 (Reuters) - Gladstone Land Corp

* Gladstone Land acquires farmland in Colorado

* Gladstone Land - Deal for about $9.1 million in cash, 233,952 common units of limited partnership interest in its operating partnership

* Op units issued were valued at $12.93 per unit, resulting in total consideration of $12.1 million

* Entered into a triple-net lease agreement with existing operator on property for an initial term that runs through 2020

* Gladstone Land -Initial term of lease provides for annual rent escalations and an overall, straight-line capitalization rate of 5.9 percent Source text for Eikon: Further company coverage:

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