Portfolio Aggregation
Contiguous farmland aggregations trade at a scale premium to comparable non-contiguous parcels of the same soil and water quality. Fund 09 acquires parcels one at a time within targeted operating blocks, patiently, over multi-year windows — capturing both the underlying farmland return and the aggregation premium on exit.
Why this strategy, why now.
Institutional buyers of stabilized farmland pay materially more for contiguous, single-operator-scaled blocks than for the equivalent scattered acreage. That premium is durable — it reflects real operating economics, not sentiment. Fund 09 monetizes it by originating the aggregation itself rather than paying it at acquisition.
How we underwrite this fund.
- Target operating blocks are defined by soil class, water certainty, and operator scale — typically 5,000 to 25,000 contiguous acres depending on region.
- Acquisitions proceed one parcel at a time over multi-year windows; the fund does not force pace and does not overbid on individual parcels to complete a block.
- Every acquisition is underwritten to stand alone on the underlying farmland thesis, so incomplete aggregations retain single-parcel value.
- Exit is typically to an institutional farmland buyer at the aggregation-scale premium; direct-to-operator sales at scale are a secondary path.
Where the acreage sits.
Corn Belt operating blocks (Iowa, Illinois, Indiana), Mississippi Delta reservoir-scaled blocks, and Great Plains dryland operator-scaled blocks. Region selected by scale opportunity, not by yield.
What we do after the acquisition.
Central acquisition team coordinates with local brokers and estate counsel over long windows. Operator tenancy across each aggregating block is progressively consolidated to a single operator or a small operator pool for exit-ready scale.
What we watch, and what we don't hedge.
The primary risk is aggregation incompleteness — blocks that do not reach exit scale within the fund term. The fund manages it by underwriting every parcel to stand alone and by not forcing pace.
Structural notes.
Fund terms shown are structural summaries only. Prospective limited partners should refer to the Private Placement Memorandum, Limited Partnership Agreement, and Subscription Documents for complete terms, fees, and risk disclosures.
Request the Fund 09 data room.
Qualified institutional and accredited investors may request access to the PPM, LPA, and quarterly reporting materials.
Contact Investor Relations