Company: LANDO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001495240-25-000005
Chunk: 43

Company: GLADSTONE LAND Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1A
Chunk 43
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  As a result, permanent crops are usually less insulated from the global produce market volatility than annual row crops.  This will generally provide for less price stability of the harvested crop and therefore less stability of the underlying land value for cropland producing permanent crops.  As a result, permanent crop farms typically have a higher risk profile than annual row crop farms.

Market conditions for certain permanent crops may continue at depressed levels for the foreseeable future.

Markets for certain permanent crops, including almonds, pistachios, and wine grapes, continue to operate below peak levels experienced in previous years, and it is currently unknown when, or if, pricing for such crops will return to those previous levels.  As a result, due to the associated operating costs, variability in crop production, and challenging market conditions, our farms producing these crop types have a higher risk than the rest of our farmland portfolio.  If these crop markets do not rebound or we cannot sell the related farmland, these higher-risk farms may have a material adverse effect on our results of operations and cash flow.

Our real estate investments will consist of agricultural properties that may be difficult to sell or re-lease upon tenant defaults or early lease terminations, either of which would adversely affect returns to stockholders.

We intend to focus our investments on agricultural properties.  These types of properties are relatively illiquid compared to other types of real estate and financial assets.  This illiquidity could limit our ability to quickly dispose of properties in response to changes in economic or other conditions.  With these kinds of properties, if the current lease is terminated or not renewed, we may be required to renovate the property to the extent we have buildings on the property, or to make rent concessions to lease the property to another tenant or sell the property.  In addition, in the event we are forced to sell the property, we may have difficulty finding qualified purchasers.  These and other limitations may affect our ability to sell or re-lease properties without adversely affecting returns to our stockholders.

Illiquidity of our farmland investments may make it difficult for us to sell properties in response to market conditions and could harm our financial condition and ability to make distributions to our stockholders.

Our farmland investments may be difficult to sell quickly or for a gain.  As a result, our ability to promptly sell one or more properties in our portfolio in response to changing economic, financial, and investment conditions may be limited, or we may have to sell properties at a loss.  In addition, we generally seek