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Real Estate
12 Months Ended
Dec. 31, 2019
Real Estate  
Real Estate

Note 5—Real Estate

 

As of December 31, 2019, the Company owned approximately 158,500 acres.

 

During the year ended December 31, 2019, the Company completed two acquisitions which were accounted for as asset acquisitions in Illinois and Colorado. Aggregate consideration for these acquisitions totaled $3.3 million and was comprised of $1.4 million in cash and  a $1.9 million reduction in notes receivable and related interest to the seller through the acquisition of collateralized property. No intangible assets were acquired through these acquisitions.

 

During the year ended December 31, 2019, the Company completed four dispositions consisting of seven farms in Illinois, Michigan, Florida, and Arkansas. Cash receipts totaled $34.1 million with a total gain on sale of $7.9 million.

 

During the year ended December 31, 2018, the Company completed six acquisitions which were accounted for as asset acquisitions in Nebraska, North Carolina, South Carolina, and Illinois. Aggregate consideration for these acquisitions totaled $33.8 million and was comprised of cash. No intangible assets were acquired through these acquisitions.