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
Market Farm Market Snapshot
Boundary boundary · Farm · Sale transactions
Loading comparables…
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