Docoh
Loading...

Iroquois Valley Farmland REIT, PBC

Filed: 30 Mar 21, 5:15pm

Filed Pursuant to Rule 253(g)(2)

File No. 024-10919

 

IROQUOIS VALLEY FARMLAND REIT, PBC

 

SUPPLEMENT NO. 4 DATED MARCH 30, 2021

TO THE OFFERING CIRCULAR DATED JULY 10, 2020

 

This document supplements, and should be read in conjunction with, the offering circular of Iroquois Valley Farmland REIT, PBC (“we”, “our”, “us” or the “Company”), dated July 10, 2020, as filed by us with the Securities and Exchange Commission (the “SEC”) on July 10, 2020, and as supplemented on October 2, 2020, December 7, 2020, and January 8, 2021 (the “Offering Circular”). Unless otherwise defined in this supplement, capitalized terms used in this supplement shall have the same meanings as set forth in the Offering Circular.

 

The purpose of this supplement is to:

 

·Update our business and properties

  

Our Business and Properties

 

The following information supplements the section of our Offering Circular captioned “Our Business and Properties – Section 7: Portfolio Specifics”:

 

IN Sugar Creek West – Thorntown, Indiana

 

On January 6, 2021, we acquired 422 acres of conventional farmland in three (3) parcels southwest of Thorntown, Boone County, IN (the “Farmland Investment”). The purchase price was $3,384,281.50, financed with a 50% LTV 1st mortgage loan. The farm consists of 422 survey acres and 408 tillable acres, 14 woods, a stream, and other features.

 

The Company will lease the farmland to Chuck Ford, a longtime tenant of the Company, and his brother Matt Ford. Upon completion of this Farmland Investment, the Ford family comprises key farmers on approximately 10.8% of the Company’s farm investment portfolio as of January 6, 2021. Following the Farmland Investment, the Company intends to underwrite the Ford family for an operating line of credit of an estimated value of $300,000 for the 2021 crop year.

 

The Company and its affiliates did not receive compensation or fees in connection with this acquisition.