Chris Janiec is a reporter with Agri Investor. Based in New York, Janiec coordinates coverage of private investment into global food and agriculture with colleagues in London and Greece. Previously, Janiec covered non-bank capital markets for PEI’s Private Debt Investor, taught international relations and US foreign policy at China Foreign Affairs University in Beijing and worked as an analyst of petroleum and shipping markets in New York.
Anna Locke, head of the Overseas Development Institute’s program on agricultural development and policy, says investors too often take government guarantees that land is available for investment at face value.
Chief executive Pat Roney says plans for the property include replanting its vineyard acres, residential development of certain parcels and consolidation with other of the firm’s wineries to utilize currently unused winemaking capacity.
The sale to Mechanics Bank underlines the Dutch lender’s redoubled focus on agriculture following a $369m Department of Justice settlement last year, says North American rural banking head Curt Hudnutt.