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9/05/23
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Hidden Oaks Vineyard in Clements, CA was recently purchased for $3.2 mil by FarmTogether Inc, a crowdfunding investment platform. Clements is situated about 45 miles southeast of Sacramento.
The 102-acre organic cabernet sauvignon vineyard will continue its operations with the new owners overseeing the business management and production of the vineyard. The buyer also obtained the property’s 2023 crops and well water for future farming needs in the transaction.
FarmTogether is a farmland investment manager that leverages technology and data science to tap into farmland investment opportunities and to enrich a scalable pipeline of deals to meet its investors’ evolving needs. The group’s team of experts’ cross-industry experience across farmland investing, agriculture, and tech identify and drive capital to farmers while giving investors the opportunity to help create a more resilient, robust, and sustainable food system.
Quinn Mulrooney and Jonathan Kendall with Land Advisors Organization represented the seller, Hidden Oaks Vineyard LLC, in the transaction.
“With the value of farmland as an asset class continuing to perform well, we’re seeing more investors looking for opportunities in the sector and the newer trend of crowdfunding of farmland investors has really been taking off,” said Mulrooney. “In this case, a surge in demand for premium organic grapes and the fertile San Joaquin Valley farm drove pricing and interest from numerous interested buyers.”
As the amount of farmland in the U.S. continues to shrink, the farming sector is seeing increased interest from institutional investors. According to the U.S. Department of Agriculture’s most recent survey, there were two million U.S. farms in 2022, down from 2.20 million in 2007. Similarly, the acres of land in farms continue its downward trend with 893 million acres in 2022, down from 915 million acres ten years earlier. With the world’s population growth increasing food demand, farmland is appealing to institutional investors and family offices seeking to diversify their portfolios.
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