PIA Farmland, Inc. (the “Company” or the “REIT”) is a private company and was incorporated in Maryland on February 13, 2013 seeking to benefit from long-term farmland price appreciation and to generate net operating farm income by purchasing farmland to lease to independent and experienced medium-sized farm operators who are well capitalized.
Our primary focus is on leasing our farms for the production of protein crops such as wheat, corn, barley, soybeans, chickpeas and alfalfa.
In 2017, we converted our Kimball County Nebraska property to a USDA organic operation and believe that as we grow this process may be an important component of our ongoing operations.
The REIT owns an interest an Operating Partnership, PIA Farmland, LP (the “OP”), that owns the farmland properties described herein. This UPREIT structure allows the REIT to exchange its shares for farmland in a tax-advantaged structure to farm owners when selling their farms to the OP.
Our manager, Pacific Income Advisers, Inc. (“PIA”), is a registered investment adviser and manages our farmland portfolio. Total assets managed by PIA are approximately $2 billion.