Business
Gladstone Land Announces Gain on Sale of Two Florida Farms
MCLEAN, VA / ACCESS Newswire / August 27, 2025 / Gladstone Land Corporation (NASDAQ:LAND) ("Gladstone Land" or the "Company") announced that it has completed the sale of a property in Florida (consisting of two farms) for $21.5 million. The sale price ...
About this update from Gladstone Land Corporation
[{"type":"text","content":"MCLEAN, VA / ACCESS Newswire / August 27, 2025 / Gladstone Land Corporation (NASDAQ:LAND) ("Gladstone Land" or the "Company") announced that it has completed the sale of a property in Florida (consisting of two farms) for $21.5 million. The sale price represents a 36% premium over the original purchase price 10 years ago, and the investment generated a 13% internal rate of return for the Company.","length":419,"tagName":"p"},{"type":"text","content":""This property was acquired as a turn-key investment in 2015 through a purchase from a large landholder in Southwest Florida," said Brett Smith, Director of the Southeastern U.S. at Gladstone Land. "In June, we received an offer to purchase the property at a compelling valuation and elected to proceed with the sale. Florida remains an important market for us, as we still own over 10,000 acres dedicated to the production of fruit, vegetables, and sod."","length":475,"tagName":"p"},{"type":"text","content":""Our strategy is generally to buy and hold properties for the long term; however, we are willing to listen to offers for our farms if the price is right and we believe it to be in the best interest of the Company and its shareholders," said David Gladstone, President and CEO of Gladstone Land. "With interest rates remaining high, we continue to explore alternative options with certain of our farms, including some strategic sales."","length":454,"tagName":"p"},{"type":"text","content":"About Gladstone Land Corporation:Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. The Company, currently owns 148 farms, comprised of over 100,000 acres in 15 different states and over 55,000 acre-feet of water assets in California. Gladstone Land's farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually. The Company also owns farms growing permanent crops, such as almonds, blueberries, figs, olives, pistachios, and wine grapes, which are generally planted every 20-plus years and harvested annually. Over 30% of the Company's fresh produce acreage is either org...