September 22, 2017 / 12:53 PM / 3 months ago

BRIEF-Farmland Partners acquires California farmland for $110 mln

Sept 22 (Reuters) - Farmland Partners Inc

* Farmland Partners announces $110 mln acquisition of California farmland

* Says ‍at closing of acquisition, co will enter into a 25-year triple-net lease agreement with Olam on a revenue share basis​

* Farmland Partners - entered into agreements to acquire from Olam International Ltd approximately 5,100 acres of permanent crop farmland in California

* Says ‍during term of agreement, Olam will operate and maintain properties and improvements​

* Farmland Partners Inc - ‍properties are located in California’s central valley and are dedicated to production of almonds, pistachios and walnuts​

* Farmland Partners Inc - expect leases in 2018 to be accretive to portfolio relative to cost of recently issued preferred security​ Source text for Eikon: Further company coverage:

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