Tejon Ranch is NYSE traded at TRC. You are essentially buying a piece of a 270,000 acre ranch at the "Grapevine," a vast tract of land where the I-5 ascends out of LA and into Bakersfield.
Looks like most of the land is going to be set aside for conservation. There is some pistachio and wheat farming, and some fuel use, but otherwise it looks like development is slow. I am conducting further research.
I also found a REIT called the Shopoff REIT. There are a group of guys in Irvine (?) who are putting together a $200 million fund to buy distressed land for redevelopment. They seem to have a strong track record (at least their successes that they reveal), but you have to buy shares in their REIT through their private broker, and the shares don't seem to be too liquid. Why didn't they list on a major exchange? I want to buy through E*Trade.
Ted Turner or other billionaires, if you are reading this, please please create a land REIT that enables investors to purchase agricultural land as a security.
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