In May of 2021, SPV Hot Lakes Organics acquired the Farm via an off-market sale. The Farm consists of 200.05 acre m/l located in the heart of Oregon’s Grande Ronde Valley in the Columbia River Plateau. The Farm is approximately 3 miles northwest of Union, Oregon (population 2,180) on Miller Lane. Access to the Farm is provided by a field drive located in the southwest corner off Miller Lane, as well as an easement through the neighboring property adjacent on the north side of the Farm providing access to Highway 203.
The property includes 177.5 irrigated acres m/l suitable for crop production, with Catherine Silt Loam and La Grande Silty Clay Loam as the primary soil types. Of the tillable acres, 46 acres are currently certified organic, while the remaining acres are in the process of completing the three-year transition to organic production. The Farm possesses two surface water rights and one ground water right that provide an ample supply of water. The water rights provide for the irrigation of approximately 180.9 acres and a maximum annual use of 542.7 acre-feet. The surface water rights authorize diversion from Catherine Creek, which borders the east side of the property. The groundwater right authorizes diversion from a well located in the center of the Farm with a depth of 430 feet. The well is rated for 900 GPM for a center pivot only, and 1,130 GPM for both a center pivot and wheel line irrigation. An eight-tower Reinke Electrogator pivot in the center of the property provides the primary irrigation source. Supplementary irrigation is provided by four wheel lines.
The Farm’s ample water and fertile soils are unique to the region, which features numerous hot springs and allows the Farm to grow high-value crops such as organic carrot seed, garlic, and red clover seed, as well as traditional row crops.
Located in Union County, Oregon, SPV Hot Lakes Organics is strategically positioned in the Grande Ronde Valley between two mountain ranges at an elevation of approximately 2,791 feet. The Farm receives an average of eighteen inches of rain per year. In Union County, approximately 44,279 acres are operated annually for row crop production, creating over $40,000,000 in annual market value through crop sales. As reported by the USDA National Agricultural Statistics Service, the 2021 average cash rent in Union County was $215 per acre.
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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