Gladstone Land Sells Florida Property for $52.5 Million

Gladstone Land Corporation has announced the sale of a property in Florida, comprising five farms, for $52.5 million. This transaction yielded a 112% return on equity invested, adding a notable net capital gain to the company's portfolio. Acquired less than seven years ago from a landholder in Immokalee, Florida, the company seized an attractive offer in late 2024 to sell the property.

Despite this sale, Gladstone remains a significant farmland owner in Florida, holding over 13,000 acres. The company's strategy has traditionally focused on long-term property retention, with income generated through rental agreements. However, given current high interest rates, alternative strategies including selective property sales are being explored.

Proceeds from this sale will be partially used to pay off approximately $19 million in debt related to the property.