GLADSTONE LAND CORPORATION (NASDAQ:LAND) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.      Entry into a Material Definitive Agreement

On November 17, 2016, Gladstone Land Corporation, through a wholly-owned subsidiary of its operating partnership (collectively, the “Company”) entered into an agreement of purchase and sale (the “Agreement”) with an unrelated party (the “Seller”). The Agreement provides for the purchase of multiple parcels of irrigated farmland located within the United States (the “Property”) for a purchase price that is expected to be $54.0 million, subject to certain credits and debits as set forth in the Agreement.

The acquisition of the Property is subject to customary terms and conditions and termination rights for transactions of this type, including a due diligence inspection period for the Company. The transaction is expected to close during the three months ending March 31, 2017; however, there can be no assurance that this prospective acquisition will be consummated by a certain time, or at all.

Certain statements and assumptions in this filing contain or are based upon “forward-looking” information and are being made to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous assumptions and uncertainties, many of which are outside the Company’s control. The Company undertakes no obligations to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances, except as required by law.

About GLADSTONE LAND CORPORATION (NASDAQ:LAND)

Gladstone Land Corporation is an externally-managed, agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company’s segment is farmland and farm-related properties. The Company is engaged in leasing its farms to independent farming operations and corporate farming operations. The Company owns approximately 43 farms consisting of over 16,810 total acres across six states in the United States (Arizona, California, Florida, Michigan, Nebraska and Oregon). The Company also owns approximately three cooling facilities and one facility utilized for the storage and assembly of boxes for shipping produce (a box barn). These properties are leased to approximately 33 different, unrelated tenants that are either independent or corporate farming operations. It also leases a small parcel on one of its properties to an oil company. Its properties include San Andreas, West Gonzales, West Beach, Dalton Lane and Keysville Road.

GLADSTONE LAND CORPORATION (NASDAQ:LAND) Recent Trading Information

GLADSTONE LAND CORPORATION (NASDAQ:LAND) closed its last trading session down -0.01 at 11.07 with 22,508 shares trading hands.