MWA Nearly Doubles its Farmland Management Portfolio, Eclipses 40,000 Acres
February 15 2024 - 7:10AM
Business Wire
Murray Wise Associates (MWA) announced today that it has added
approximately 19,200 acres under the company’s farmland management
portfolio in the past four months, bringing the total acres managed
to more than 40,000 across 10 states.
MWA President Eric Sarff said growing the firm’s management
business has been a point of emphasis over the past several
months.
“There are companies out there that manage more acres than MWA,
but we believe that our team’s experience, attention to detail, and
client service give us an advantage in the marketplace, which is
why we’re working hard to grow in this area,” Sarff said.
MWA manages farmland for a variety of clients, ranging from
individuals who own a single farm to institutional asset managers
with large farmland portfolios.
“We’re going to continue working to expand the number of acres
we manage,” Sarff added, “because it provides a recurring,
diversified revenue stream for the company, and we believe it can
lead to future opportunities for our core brokerage and auction
business.”
Among the farm management services MWA provides its clients:
negotiating and securing leases; regularly visiting farms and
interacting with tenants; overseeing necessary maintenance;
preparing business plans, estimates, and financial statements for
the property; assisting with commodity marketing; leveraging buying
power to help lower farm input costs; and providing on-farm
technical assistance as needed. In addition, MWA can support its
management clients with brokerage services, either expanding their
farmland holdings or selling properties.
MWA’s management portfolio currently includes farms in Colorado,
Illinois, Indiana, Iowa, Louisiana, Mississippi, Missouri, North
Carolina, Ohio, and South Carolina. Illinois and Iowa account for
the most acres managed by MWA with more than 10,000 acres each.
MWA, which is headquartered in Champaign and has a satellite
office in Clarion, Iowa, is a leading national agricultural real
estate auction and brokerage company. MWA was acquired by Farmland
Partners Inc. (NYSE: FPI) in November 2021. Additional information:
www.murraywiseassociates.com or (800) 607-6888.
Forward-Looking Statements
This communication includes "forward-looking statements" within
the meaning of the federal securities laws, including, without
limitation, statements with respect to the outlook of Farmland
Partners Inc. ("FPI") and Murray Wise Associates LLC ("MWA") and
proposed and pending farmland auction, brokerage, financing and
asset management activities. Forward-looking statements generally
can be identified by the use of forward-looking terminology such as
"may," "should," "could," "would," "predicts," "potential,"
"continue," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" or similar expressions or their negatives,
as well as statements in future tense. Although FPI and MWA believe
that the expectations reflected in such forward-looking statements
are based upon reasonable assumptions, beliefs and expectations,
such forward-looking statements are not predictions of future
events or guarantees of future performance and actual results could
differ materially from those set forth in the forward-looking
statements. Any forward-looking information presented herein is
made only as of the date of this communication, and FPI and MWA do
not undertake any obligation to update or revise any
forward-looking information to reflect changes in assumptions, the
occurrence of unanticipated events, or otherwise.
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Eric Sarff eric@mwallc.com
Farmland Partners (NYSE:FPI)
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