Farmland Reserve Inc., an entity of The Church of Jesus Christ of Latter-day Saints, bought 41,554 acres across 46 farms from Farmland Partners Inc. for a reported $289 million in October 2024. The sale transferred a large, multi-state portfolio; the reported commitment was to keep the existing farmer tenants in place.
What changed hands—and where?
Farmland Partners sold the portfolio to Farmland Reserve, which Successful Farming identifies as an entity of The Church of Jesus Christ of Latter-day Saints. The farms were in Arkansas, Florida, Louisiana, Mississippi, Nebraska, Oklahoma, North Carolina and South Carolina. The land was predominantly cropland and included grain operations as well as corn, soybean, rice and cotton farms. Successful Farming reported the transaction in 2025.
The reported total was 41,554 acres across 46 farms—not one continuous tract. The published figures do not break down acreage or price by farm or state.
How much did the farmland sell for?
The reported purchase price was $289 million. Dividing that total by 41,554 acres gives an implied portfolio average of about $6,955 per acre. That is a calculation across the entire reported portfolio, not the sale price or appraised value of any individual farm.
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How does the price compare with 2024 farmland values?
Successful Farming reported USDA’s 2024 averages for context. These are statewide or national benchmarks, not appraisals of the 46 properties; they also reflect 2024 values, not current 2026 land prices.
| Measure | 2024 value per acre | What it represents |
|---|---|---|
| Portfolio implied average | About $6,955 | Calculated from the reported $289 million price and 41,554 acres |
| U.S. cropland | $5,570 | USDA national average, as reported by Successful Farming |
| U.S. farm real estate | $4,170 | USDA average for land and buildings, as reported by Successful Farming |
The article also reported these 2024 USDA state cropland averages: Arkansas, $3,600; Florida, $10,170; Louisiana, $3,480; Nebraska, $6,540; Oklahoma, $2,310; North Carolina, $5,930; and South Carolina, $5,120 per acre. It did not provide a Mississippi figure in the cited passage. Because the farms’ parcel-level locations, crop mix, soils, improvements and lease terms are not itemized, these comparisons cannot establish whether any particular tract sold above or below its market value.
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Will the sale affect the farmers who lease the land?
Farmland Reserve said it would keep the same farmer tenants. CEO Doug Rose said the company looked forward to leasing the farms to local farmers for years to come. That is the buyer’s stated intention; the report does not provide independent tenant accounts or detailed lease terms.
Farmland Partners said it interviewed tenants before the sale and that tenants had rights of first refusal. According to executive chairman Paul Pittman, none chose to buy. Pittman characterized the transaction as a transfer from one remote, non-farmer owner to another and said he did not expect it to meaningfully change local conditions. That is the seller executive’s assessment, not a measured finding about effects on each community.
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Does the deal signal rising farmland prices or a buying trend?
One large portfolio sale does not establish a broad trend in institutional farmland buying or show that farmland values have shifted. Iowa State University economist Rabail Chandio told Successful Farming that infrequent transactions of this kind do not affect farmland values. She identified interest rates, net farm income, commodity prices, economic uncertainty and the supply of land as factors that influence farmland prices.
The report quoted Pittman saying Farmland Reserve may own the land for “50 years or more.” That expresses the buyer’s expected holding horizon as conveyed by the seller; it does not guarantee how long the farms will remain under the same ownership.
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The available reported figures describe the portfolio total, but not individual sale prices, exact acreage by parcel, or the transaction’s financing and tax structure beyond the article’s characterization of it as an all-cash deal. Accordingly, the implied per-acre average should be treated as a rough portfolio comparison, not a valuation guide for other farmland.
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