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123 Highline Road

Peri & Sons Farms Acquires 2,411-Acre Holtville Farm For $27.5M
SOLDFarm

Peri & Sons Farms Acquires 2,411-Acre Holtville Farm For $27.5M

$27,500,000

Building Size

Asset Type

Farm

Closing

Sep 27, 2023

AI

The ±2,411-acre Starr Ranch agricultural farmland in Holtville, CA, has been sold to Peri & Sons Farms for around $27.5 million. The property, located at 123 Highline Road, offers ample space for Peri & Sons Farms to expand its operations and cultivate fresh produce year-round, including organic vegetables.

Summary of transaction details

  • Property Type: Farm
  • Transaction Amount: $27,500,000
  • Address: 123 Highline Road
  • Market: Holtville
  • Acreage: 2,411

Cushman & Wakefield represented both the buyer, Peri & Sons Farms, and the seller in this transaction. The brokers involved in the deal were Matt Davis and Melanie Haynes, who facilitated the successful sale of the property. Peri & Sons Farms, a family farming operation based in Nevada, aims to utilize the expansive farmland to expand its footprint in the region and meet the growing demand for fresh, locally-grown produce.

Players

Matthew Davis

Cushman & Wakefield

Broker

$62.4M

vol

8 deals

Broker

Market Farm Market Snapshot

Boundary boundary · Farm · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.58%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93