Farmland Partners Inc. Acquires 177 Acres Of Land In Mercer County, IL For $1.5M
Mercer County, Illinois, United States
$1,475,000
Building Size
—
Asset Type
—
Closing
Jan 28, 2022
About this deal
AI
Farmland Partners Inc., a prominent agricultural real estate company, has recently acquired a significant land asset in Mercer County, Illinois. The property, totaling 177 acres, was purchased for a transaction amount of $1,475,000. The deal was finalized on January 28, 2022, marking a successful purchase for Farmland Partners Inc.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $1,475,000
- Market: Mercer County, IL
- Acres: 177
Paul Pittman, the buyer's representative from Farmland Partners Inc., played a key role in facilitating this land acquisition. His expertise and negotiation skills ensured a smooth transaction process. Farmland Partners Inc. has established itself as a trusted name in the agricultural real estate market, and this acquisition further strengthens its portfolio in the region.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.75%
Cash-on-Cash
-3.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93