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Permanent Crops
Senior principal Tom Amis tells Agri Investor that Revol Greens, the seller in the sale/leaseback transaction, has seen a spike in demand for greenhouse-grown produce following a recent E. coli outbreak traced to California lettuce.
The purchase of the 761-acre property comes as USDA predicts record production of the nut.
While the opening panel at our 2018 Forum in Chicago acknowledged such near-term headwinds facing managers as increased competition for fixed income, there was optimism for long-term growth.
The 'very efficient' almond market and rising land values are probably among the factors that just prompted AgIS Capital to buy a 952-acre property for a reported $24m.
The fund, which has invested in water rights and almonds through the Brisbane-based manager, is monitoring the situation due to potential reputational risk.
The investment comes as the $9bn Sacramento pension earmarks up to 30% of an increased real assets portfolio for ag and timber by 2020.
The Brisbane-based firm, which was part of a failed Chinese-led bid for S Kidman & Co, has seen ‘continuing interest’ from investors in unlisted assets.
The latest NCREIF Australian Farmland Index, which splits annual and permanent cropland for the first time, shows ag returns Down Under continuing to outperform the US.
After closing a $300m debut fund last summer, the acquisition of Universal Irrigation marks the third such deal for the West Coast midstream specialists.
The manager of ASX-listed Rural Funds Group has bought cotton and cattle properties months after securing A$150m through an equity raise.