Dealflow | January 9, 2020

Iroquois Valley Farmland REIT raises $6 million for soil restoration funding

Amy Cortese
ImpactAlpha Editor

Amy Cortese

ImpactAlpha, Jan. 9 – The Evanston, Illinois-based REIT closed funding for its 2018 soil restoration notes. 

The notes drew a wide range of accredited investors including individuals, non-profits, family offices and ImpactAssets’ Donor Advised Fund to help convert conventional farmland to organic.

In addition to the soil restoration notes, the REIT in September launched a direct public offering that could raise up to $50 million from the general public for farmland conversion.

Iroquois Valley was also awarded a $700,000 Conservation Innovation Grant from USDA’s Natural Resources Conservation Services to establish up to $25 million in operating lines of credits for its farmers.