Farmland Partners Inc. (NYSE: FPI) expanded its asset management portfolio by 4,488 acres and strengthened its brokerage business with the addition of William Hughes to its staff.
Hughes comes from a farm family with deep roots in southern Illinois, and he has worked in agriculture and real estate for nearly 25 years. In that time, he’s managed both dryland and irrigated farms in 11 states and has experience with a wide variety of crops ranging from apples and cherries to corn, soybeans, cotton, and rice.
Hughes holds degrees in farm management and agribusiness economics from Southern Illinois University.
“Bill is well-known and well-respected in the farmland industry, and his addition further strengthens our Company’s capabilities as we focus on growth,” said FPI CEO Paul Pittman. “We’re pleased to welcome Bill to the team as Director of Acquisitions, and we’re excited to get him in the field to partner with tenants, manage assets, work with MWA, and source new deals.”
FPI now manages nearly 30,000 acres for third parties in addition to the more than 160,000 acres it owns.
Farmland Partners is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate.
The Company owns and/or manages approximately 190,000 acres in 18 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, South Carolina, and Virginia. We have approximately 26 crop types and more than 100 tenants.
FPI shares nosed up five cents to $14.58.
