FarmTogether Closes The Largest Single-Asset Crowdfunded Farmland Investment Coming Off A Remarkable Year of Rapid Growth

SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- FarmTogether, the technology-powered, online marketplace providing accredited investors with direct access to institutional-grade farmland, today announced the closure of the largest single-asset crowdfunded farmland investment to date: a 201-acre organic redevelopment property located in Franklin County, Washington - a $22M deal.

Galaxy Organic Apple Orchard's unparalleled deal size directly reflects the increasing demand for farmland investments among retail investors. FarmTogether saw 178% growth of users on their platform in 2020, as investors sought alternative assets and ESG options amid heightened market volatility, the muted performance of bonds, fears over inflation, and an emphasis on sustainability. The company also recognized over 3,000% growth in investments, with multi-million dollar deals closing in under an hour.

"The continued growth we've witnessed validates our mission to provide investors with greater access to farmland investment opportunities while simultaneously channeling funding for the transitions necessary to support sustainable and profitable farming. Through our offerings, we're able to leave a lasting and positive impact in more ways than one," said Artem Milinchuk, CEO of FarmTogether.

With a target net IRR of 15.0% and a target net average cash yield of 19.6%, Galaxy Organic Apple Orchard is expected to be a high-quality prime orchard that will be of interest to institutional investors and large growers at exit. The property will be replanted with two premium organic varietals, Cosmic Crisp® and SweeTango®, and will be operated by Stemilt Growers, a leading tree fruit growing, packing, and shipping company based in Washington. Stemilt has additionally partnered with Apeel to apply their secondary skin to the apples produced on the property.

In January, FarmTogether announced their partnership with Leading Harvest, the first scalable, industry-wide standard paving the way for universal sustainable farmland management. Galaxy's deal size includes ~$14.1M in development costs to bring the property to maturity and transition it to a sustainable operation, advancing FarmTogether's firm commitment to sustainability and regenerative agriculture.

To learn more about FarmTogether and its current properties, please visit farmtogether.com.

About FarmTogether

FarmTogether is a technology-powered, online marketplace that enables individuals to invest in U.S. farmland. The company has developed an end-to-end platform that allows investors to browse carefully vetted farmland investments, review due diligence materials, invest in properties, and sign legal documents, all in a secure online environment. FarmTogether's team and partners are cross-industry professionals with over 70 years of experience across farmland investing, agriculture, and real estate in the U.S. and globally.

Contact
Rebecca Bauer
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SOURCE FarmTogether Inc

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