Employees of Pacific Income Advisers have been actively involved in the REIT sector since the launch of Anworth Mortgage Asset Corporation in 1997. PIA has recently become the manager for PIA Farmland, a REIT, which invests in income producing farmland.
Anworth Mortgage Asset Corporation was founded in 1997 by Lloyd McAdams, Joe McAdams and Heather Baines of Pacific Income Advisers as a real estate investment trust (“REIT”). Anworth invests primarily in mortgage-backed securities which are either rated “investment grade” or are guaranteed by federally sponsored enterprises, such as Fannie Mae or Freddie Mac, on a leveraged basis. For additional information on Anworth, please visit Anworth.com.
PIA Farmland, Inc. was incorporated in Maryland on February 13, 2013 with Pacific Income Advisers, Inc. (“PIA”) serving as the manager of the farmland portfolio. PIA Farmland conducts business through an Umbrella Partnership Real Estate Investment Trust (“UPREIT”) structure in which PIA Farmland, LP, the Operating Partnership managed and owned by PIA Farmland, owns the farmland properties.
The goal of PIA Farmland is to generate net operating farm income from the purchase of farmland, which it leases to independent small and medium-sized farm operators with sufficient experience and capital to operate the farms without PIA Farmland’s financial assistance. The business strategy is to create a diversified portfolio of farmland. In the Midwest, the firm will emphasize the production of corn and soybeans. In the Great Plains, the firm will emphasize the production of wheat, barley and alfalfa.
If you have any additional questions or would like an offering memorandum for PIA Farmland, please visit PIAFarmland.com.