DENVER, Oct. 17, 2014 /PRNewswire/ — Farmland Partners Inc. (NYSEMKT:FPI) (the “Company”) today announced that it has entered into eight separate purchase agreements with separate sellers to acquire nine farms in Arkansas and Nebraska totaling approximately 6,080 acres for aggregate consideration of approximately $25 million in cash. The acquisitions are expected to close in 2014, and are subject to customary closing conditions.

The Company also announced the expansion of the secured note purchase facility with the Federal Agricultural Mortgage Corporation (NYSE: AGM and AGM.A) (“Farmer Mac”) from $30 million to $75 million. Additionally, the Company announced the pricing of a $5.46 million, three-year, interest-only bond at 2.35% under the Farmer Mac facility.

“Despite strong competition in farmland markets from owner/operators, our structure and approach allows us to find investment opportunities with attractive prices and cap rates, and we continue to expand our portfolio and our tenant base,” said Paul Pittman, CEO of Farmland Partners Inc. “The increase of the borrowing capacity under the debt facility with Farmer Mac demonstrates the strength of our relationship with a leading credit provider in the U.S. agricultural space and gives us greater access to debt financing at very attractive terms.”

About Farmland Partners Inc.

Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality primary row crop farmland located in agricultural markets throughout North America. The Company’s portfolio is comprised of 44 farms with an aggregate of approximately 26,300 acres in Illinois, Nebraska, Colorado, Arkansas and Louisiana, with thirteen farms under contract in Arkansas, Nebraska and Colorado totaling approximately 9,050 acres. The Company intends to elect and qualify to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ending December 31, 2014.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding the pending acquisitions and expected rents. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The Company faces many risks that could cause its actual performance to differ materially from the results contemplated by its forward-looking statements, including, without limitation, the risks related to leasing farmland to third-party tenants, including delays in executing new leases and failure to negotiate leases on terms that will enable the Company to achieve its expected returns. These forward-looking statements are based upon the Company’s present expectations, but the events, expectations, intentions or prospects suggested by or reflected in these statements are not guaranteed to occur or be achieved, and you should not place undue reliance on such statements. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes, except as may be required by law. For a further discussion of these and other factors that could impact the Company’s future results, performance or transactions, see the section entitled “Risk Factors” in the Company’s final prospectus, dated July 24, 2014, related to its recent public offering.

SOURCE Farmland Partners Inc.