Deal Snapshot
GLADSTONE LAND ACQUIRES CALIFORNIA VINEYARD FOR USD 5.4M
Wednesday 13 September 2017

Virginia, US-based real estate investment trust Gladstone Land Corp. (NASDAQ: LAND) has acquired a 361-acre vineyard in Santa Barbara County, California, for approximately USD 5.4m, the company said. Upon acquisition, Gladstone Land entered into a 10-year, triple-net lease with a leading orchard and vineyard operator.
The property currently consists of 75 planted vineyard acres; however, the company plans to partner with the tenant, which has extensive experience in developing new vineyards, to develop approximately 190 of the remaining plantable acres into vineyard acreage.


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Details
Date Published: 13/09/2017
Target: 361-acre vineyard in Santa Barbara,  County, California
Country: USA
Deal Size: 5.4m (USD)
Sector: Agriculture/Forestry
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor:
Buyer: Gladstone Land Corp
Comment:


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