Farmland Partners sells 862 acres of farmland in Arkansas for $3.7M

Farmland Partners announced that it sold 862 acres of farmland in White County, Arkansas, for $3.7M, an approximate gain of 24% over net book value. FPI sold the land to a local farmer who owns a nearby cotton gin and plans to grow cotton on the property. As part of the transaction, FPI will retain all the solar energy option payments currently being made on the tract and will retain a 30% interest in future revenue created if the renewable energy project enters construction during the option period. After the disposition, the company’s footprint in Arkansas totals nearly 12,000 acres.