Farmland Partners has sold 2,811 acres across eight farms to Promised Land Opportunity Zone Farms I.
The total purchase price was $18.3 million.
In January 2021, FPI announced its partnership with the OZ Fund, a private investment vehicle focused on acquiring and improving farmland in qualified opportunity zones in the United States, as designated under U.S. tax provisions enacted in 2017.
“With strong commodity prices projected for 2021, we believe the outlook for farmers is very favorable,” stated Paul Pittman, FPI’s chairman and CEO.