Saskatchewan land value continues strong

“An Alberta-based investment company is selling more than 19,000 acres of farmland in Saskatchewan. Calgary-based Agcapita is winding up Farmland Fund I, the first of four farmland investment funds under the company’s management. The Registered Retirement Savings Plan eligible fund was launched in early 2008 and deployed about $10 million in investment capital, which was used to buy cropland throughout the province. The fund matured earlier this year, meaning assets in the portfolio are being sold and proceeds returned to fund investors. Karim Kadry, investment manager with Agcapita, said Fund I holdings include roughly 19,300 acres of crop land located in 16 municipalities. The company is soliciting bids for the entire portfolio or for individual parcels of land, he said. “When we first launched the fund, we purchased farmland at an average of around $439 per acre,” Kadry said.”

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