There are 157 farmable acres on the Columbia County properties. Upon the acquisition, McLean, Va.-based Gladstone entered a 10-year lease with a grower who declined to be identified.
“We are pleased to add two great farms in Oregon to our portfolio and partner with the existing farmers on a long-term basis,” Bill Frisbie, Gladstone director, said in a news release. “Our objective is to be a strategic real estate partner for farmers so they can secure their land for the long haul.”
Gladstone Land now owns 23 fruit and vegetable farms in five states totaling 6,200 acres. Aggregate value is about $123 million.
The Oregon properties have been farmed for blueberries for decades, according to the company.