Is Farmland Partners, Inc a successor entity to Midwest and American Farmland Partners?
You be the judge.
A 2011 American Farmland Partners Corporation press release describes the business model in which acquisitions of farmland will be made with stock, partnership interests and cash as a means of minimizing capital gains taxes and ensuring farm families continue to participate in the income and appreciation of their farms.
"American Farmland Partners will be using their securities instead of cash to acquire farmland. (Farmers may also opt for a combination of up to 40% cash and the balance in stock or partnership interests, depending on the location of the farm)."
Exhibit: American Farmland Partners Corporation Press Release 2011
A 2015 Farmland Partners, Inc press release describes the same acquisitions strategy as that of American Farmland Partners Corporation from 2011. Both firms buying farmland using publicly traded stock, partnership interests and cash.
Source: Farmland Partners Press Release 2015
Colorado-based Farmland Partners Inc. made a big addition to its land portfolio earlier in March, when it announced it had planned to buy three row crop farms in Nebraska and Colorado, adding 2,592 acres to its growing land holdings – at a price tag of $16.6 million.
Now, the company has announced an even larger purchase agreement. This time, Farmland Partners has targeted eight row crop farms in North Carolina, South Carolina and Virginia, comprising an aggregate of 15,042 acres. The farms were purchased for total consideration of $49.8 million in cash and an aggregate of 2.981,971 shares of the company’s stock, as well as units of limited partnership in interest in the company’s operating partnership. These acquisitions are expected to close in May 2015 (subject to customary closing conditions).