Farmland Partners, Prudential announce termination of management agreement

Date:02-23-2017

Farmland Partners Inc. ("FPI" or the "Company") (NYSE: FPI) and Prudential announced recently that they have mutually agreed to terminate the Sub-Advisory and asset management agreements under which Prudential has provided services to the properties formerly owned by American Farmland Company. American Farmland Company merged into FPI on February 2, 2017. FPI and Prudential will work through March 31, 2017 to transition all management activities at which time the agreements will terminate.

Paul Pittman, Chairman and CEO of Farmland Partners said, "We appreciate Prudential's work assembling a portfolio of high-quality farms and farmers. We look forward to working with the team at Prudential in other capacities going forward."