Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Land, at cost	$ 551,392	$ 290,828
Grain facilities	6,856	4,830
Groundwater	11,933	6,333
Irrigation improvements	15,988	11,909
Drainage improvements	4,757	1,641
Permanent plantings	1,845	1,168
Other	2,901	913
Construction in progress	1,615	286
Real estate, at cost	597,287	317,908
Less accumulated depreciation	(3,224)	(1,671)
Total real estate, net	594,063	316,237
Deposits	5,721	765
Cash	47,166	23,514
Notes and interest receivable, net	2,843	2,812
Deferred offering costs	216	267
Accounts receivable, net (See Note 1)	4,181	703
Inventory	283	249
Prepaid expenses and other assets	1,056	407
TOTAL ASSETS	655,529	344,954
LIABILITIES
Mortgage notes and bonds payable, net	308,779	187,074
Dividends payable	2,938	2,060
Accrued interest	1,538	681
Accrued property taxes	1,225	765
Deferred revenue (See Note 2)	982	4,854
Accrued expenses	4,558	1,292
Total liabilities	320,020	196,726
Commitments and contingencies (See Note 6 and Note 8)
Redeemable non-controlling interest in operating partnership, common units		9,694
Redeemable non-controlling interest in operating partnership, preferred units	119,915
EQUITY
Common stock, $0.01 par value, 500,000,000 shares authorized; 17,351,446 shares issued and outstanding at December 31, 2016, and 11,978,675 shares issued and outstanding at December 31, 2015	172	118
Additional paid in capital	172,100	114,783
Retained earnings	4,103	659
Distributions in excess of earnings	(14,473)	(7,188)
Non-controlling interests in operating partnership	53,692	30,162
Total equity	215,594	138,534
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST IN OPERATING PARTNERSHIP AND EQUITY	$ 655,529	$ 344,954