Morrison & Foerster LLP represented Farmland Partners Inc. (NYSE: FPI) in its offering of 6,037,500 shares of its 6.00% Series B Participating Preferred Stock, which includes the underwriters full exercise of their option to purchase additional shares. Total net proceeds from the offering were approximately $144.2 million.
Farmland Partners Inc. is a publicly traded real estate investment trust (REIT) that manages and seeks to acquire both high-quality farmland and potential farmland in North America. Farmland Partners owns approximately 155,000 acres of farmland in key agricultural regions across the United States, making it the largest farmland portfolio of any publicly traded farmland company.
The MoFo team that represented Farmland Partners was led by co-chair of the Firm’s REIT practice and Corporate Finance partner Justin Salon (Washington, D.C.) and included Tax partner Shane Shelley (San Diego), Corporate associates Andy Campbell, Katherine Shaia, David Block and John Hensley (all of Washington, D.C.), and Tax associate Jessica Stern (San Francisco). MoFo’s nationally recognized REIT practice is actively involved in advising REITs and REIT sponsors, contributors, investors, investment advisers, underwriters, and institutional lenders on all aspects of REIT activity.
Read the related press release.