Farmland Partners Buys Texas Potato Farm

Farmland Partners Inc. (FPI) paid $12.1 million for 3,843 acres of Texas farmland. Farmland Partners will continue renting the property to the current tenant, CSS Farms. Founded in 1986 as a potato farm, CCS Farms is a vertically integrated agricultural company with a presence in 10 states. FPI CEO Paul Pittman called the acquisition an important purchase for the company, expanding its portfolio into a key state. Agricultural land in Texas has averaged 5.7 percent in annual appreciation since 1970. Read more HERE.