mAgma is pleased to launch their first offering - the SPV Larsen Farm, LLLP. The Larsen Farm is an 80-acre property located in South Central Iowa just outside of the Des Moines Metro area. The asset includes 70 acres of land suitable for transition to tillable farmland and a 5-acre building site.
Located in Madison County, Iowa, SPV Larsen Farm was enrolled in a Conservation Reserve Program (“CRP”) through the Farm Service Agency in 2009. Due to there being no application of synthetic chemicals or fertilizers on the Farm throughout the ten-year duration of enrollment, the Farm became eligible for organic production immediately after exiting the program in October 2019. The Farm received USDA organic certification in the spring of 2020 and is now growing organic feed grain products. Peoples Company has been engaged to professionally manage the Farm.
Limited Partners in SPV Larsen Farm will receive annual rental income, based on $250 per acre for 70 tillable acres. Annual rental income will be used to satisfy the Farm’s annual operating expenses. Any income not used to pay annual operating expenses will be held in SPV Larsen Farm’s cash reserves. Upon the end of the target hold period, or otherwise at the general partner’s discretion, total cash reserves, including any cash remaining from initial cash reserve contribution, annual rental income and/or building site sale proceeds, will be distributed to investors in an amount proportional to their interest in the SPV Larsen Farm. When the SPV Larsen Farm asset is sold, net proceeds from the sale of the asset will also be distributed to investors on a pro rata basis.
mAgma aims to increase access to high-quality U.S. farmland by allowing investors to easily buy and sell units with low investment amounts and competitive, diversified returns through a digital platform, while simultaneously creating an alternative equity source for landowners.
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Disclaimer: No material on this website is to be construed as a solicitation or offer to sell a security, or a solicitation or an offer to purchase a security. Offers to sell or solicitations of an offer to buy will only be made by the delivery of definitive documentation relating to a proposed investment. Offers, commitments, and sales will only be made or accepted pursuant to definitive documentation and only to qualified investors.