Permanent Crops

Gladstone has plans to transform the 850 acre land, which is currently used to grow wine grapes, into an almond orchard.

The property comprises 1067 hectares of mature almond groves that are owned by Macquarie Farm Assets and Resources Management.

The firm is targeting PE groups focused on large-scale agribusinesses, impact funds and family offices as it sets its sights on sustainable cacao.

Sherpa Asset Management is selling the pistachio and almond farm near Fresno for around $26m.

Sherpa Asset Management's agri investment arm will soon close on around $40m of commitments across two projects in Colombia and Peru.

The new farm is expected to have an annual rental income of 8 to 10 percent of the purchase price and it is the first permanent crop farm the REIT has acquired.

The deal comprises 3,519 aggregate acres of irrigated cropland in California and Florida, for approximately $35 million.

The New Mexico Educational Retirement Board’s Mark Canavan wants to increase the pension’s commitment to Blue Road Capital after first approving the fund in December. A previous commitment to New Zealand dairy fund Southern Pastures was cancelled.

The farmland REIT has entered into a lease with existing operator Wish Farms.

Rural Funds Group, the ASX-listed farmland REIT, raised the capital through a placement with new and existing investors. It also launched a $7.5m entitlement offer for existing investors.