Farmland Partners Purchases More Than 8,000 Acres in Louisiana

DENVER -- Farmland Partners Inc. (NYSE: FPI) (the "Company") yesterday finalized two farm purchases in eastern Louisiana, totaling more than 8,000 acres. The company now owns four farms and more than 17,000 acres in the state.

"We're always excited to add profitable farms with a history of reliable production," said FPI Chairman and CEO Paul Pittman. "These acquisitions checked all the boxes for us, including land quality, good tenants with proven track records, and diversified crops."

The biggest of the two farms is in Avoyelles Parish and has 7,273 contiguous acres – 6,553 of which are tillable. The farm, which grows corn, cotton, rice, soybeans, and grain sorghum, was purchased for $25.1 million. Additionally, a 732-acre farm in West Carroll Parish was acquired for $3.6 million. Corn, soybeans, wheat, and sweet potatoes are grown on 689 acres of the land, which is prized for excellent soil and water conditions.

Leases for the farms include cash rent and bonus rent and are expected to yield between 3.5 percent and 4 percent annually, assuming crop production and prices in line with recent historical production and crop prices on the acquired farmland.

FPI is the nation's largest publicly traded farmland REIT by U.S. acreage and has added 9,458 acres to its portfolio through acquisitions since Dec. 1.

About Farmland Partners Inc.

Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns and/or manages approximately 187,000 acres in 18 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, South Carolina, South Dakota and Virginia. We have approximately 26 crop types and more than 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014.  Additional information: www.farmlandpartners.com or (720) 452-3100.