FarmTogether has introduced a crowdfunded investment in the Great Valley Citrus Grove, situated in Fresno County, California, within the San Joaquin Valley's Citrus Belt. This 56-acre property, focusing on diversified citrus cultivation, is accessible for investment with a base of $15,000, aiming for a 10-year period. The investment targets a 10.1% net IRR, a 9.6% average cash yield, and a 2.4x net multiple on invested capital, at a purchase price of $2,200,000.
The grove, located 19 miles southeast of Fresno, benefits from Fresno County's optimal agricultural conditions. It cultivates Ruby Red grapefruit and Cara Cara navels, both in high demand for their unique qualities and anticipated to be sold in the fresh market. The investment's viability is supported by a positive outlook on the citrus market, driven by increasing consumer demand for fresh, flavorful produce and the scarcity of prime citrus-growing land in California.
Water resources, critical to agricultural success, are secured through the Alta Irrigation District and two on-site wells, ensuring the grove's long-term productivity. By the end of the investment term, the grove is expected to reach peak production with several decades of economic viability ahead, potentially attracting large-scale growers and investors due to its strategic location near other FarmTogether citrus assets.
Source: benzinga.com
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