What is the investable target universe for farms? Are only the largest farms an appropriate fit for this type of portfolio?
The target universe consists of millions of acres of prime Midwest farmland. We continue to follow our acquisition strategy, which is to purchase under-valued farms ranging from 100 acres to 1,000 plus acres. Attractive farm acquisition opportunities are not limited to only the larger farms. We do not see any capacity issues as to potential investments or farm acquisitions. Our relationships and building reputation in the Midwest enable Ceres Partners to gain access to an increasing number of the best under-valued farmland buying opportunities.
