Permanent Crops

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.

Select Harvests wants expressions of interest from long-term investors to enter into a sale-and-leaseback arrangement on over 5,000 acres of underdeveloped orchards.

The listed Australian farmland REIT has entered into a 22-year lease with Olam Orchards, on land it is converting from grazing and cotton.

The US private equity fund has closed on $250m.