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FARMLAND PARTNERS INC. ACQUIRES 8,349 ACRES OF LOUISIANA FARMLAND FOR $26.8 MILLION
Farmland Partners reports:

Denver - Farmland Partners Inc. (NYSE: FPI) (the "Company") today announced that it purchased 8,349 acres of cropland in Southern Louisiana for total consideration of $26.8 million. This highly improved property consists of 5,943 tillable acres, with a rich history of growing rice and soybeans.

The farm is located close to the Mermentau River and contains over 20 miles of canals for surface irrigation during the growing seasons. In addition, the transaction will preserve over 1,200 acres of fresh-water marshland known throughout South Louisiana for its outstanding waterfowl habitat. This marshland will continue to offer environmental benefits and recreational opportunities. The farm will be leased for the next several years at a current yield of approximately 4.2%.

"We are pleased to add this high-quality farm to the portfolio and expand our presence in the Delta region," said Paul A. Pittman, the Company's Chairman and CEO. "Farms of this caliber with important environmental and agriculture production attributes do not come to market every day. It has advanced surface irrigation networks and the ability to grow many different crops."


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