Gladstone Land enters third of three lease renewals Gladstone Land announced that it has entered into the third of three lease renewals over the course of the previous nine months, all at an increase in rental rates. The renewal terms range from six to nine years, with an average increase in annual straight-line rental income of 21.0%. The aggregate increase in rental income will be approximately $470K per year. Each lease also has a reset provision to market rates at various times over its term.
Gladstone Land has 'strong list' of potential acquisitions "As we enter 2H, we have a strong list of potential acquisitions in various stages of our due diligence process. We expect to be very active over the next few months, as we have $30M of potential farmland purchases under signed purchase agreements that we are working towards closing during Q3, and we expect to execute additional purchase agreements within the next couple of weeks," said the company.