MCLEAN, VA - Gladstone Land Corporation announced that it has completed the sale of two farms in northern Nebraska for $12.0 million, representing a 9 percent increase over the farms' original purchase prices.

"These farms, located in Rock County and Holt County, Nebraska, were purchased in 2015 as part of a sale-leaseback transaction, with the primary use of growing potatoes," said Joseph Van Wingerden, Midwest & East Coast Managing Director according to Gladstone Land. "As the region shifted almost exclusively to soybean and corn production, the market rent on these farms fell below our target returns, leading us to begin exploring other options. We purchased these farms for a total of $11.0 million, so we are pleased to still be able to exit the properties for a net gain, despite the shift in crop profitability on the farms. This further highlights the resilience of farmland and its ability to hold value and appreciate."