Gladstone Acquires Premium Vineyards from Resource Land

Horizon Vineyards, an affiliate of Resource Land Holdings (RLH), sold 1,317 acres of vineyard to Gladstone Land Corporation for $37.7 million. The farmland, located in Washington and Oregon, will continue to be managed by Horizon. The purchase adds diversification to Gladstone’s farmland holdings. As part of the acquisition, Gladstone gained several long-term, triple-net vineyard leases. RLH Founding Partner Joe Leininger said his company greatly values its relationship with Horizon and “looks forward to watching them continue to expand their brand and further reinforce their reputation as a leader within the industry” under its new ownership. Gladstone Land’s 169 farms — made up of 115,000 acres spanning 15 states — are predominantly located in regions that grow fresh annual crops. RLH has acquired over 800,000 acres of “natural resource real estate” since its founding in 1998 and frequently invests alongside landowners and operators. Read more HERE.