Farmland Partners has purchased 8,349 acres of cropland in Southern Louisiana for a total consideration of $26.8 million.
This highly improved property consists of 5,943 tillable acres, with a rich history of growing rice and soybeans. The farm is located close to the Mermentau River and contains more than 20 miles of canals for surface irrigation during the growing seasons. In addition, the transaction will preserve more than 1,200 acres of fresh-water marshland known throughout South Louisiana for its outstanding waterfowl habitat. This marshland will continue to offer environmental benefits and recreational opportunities. The farm will be leased for the next several years at a current yield of approximately 4.2 percent.
