Iroquois Valley Farmland REIT

What Iroquois Valley Farmland REIT does

Iroquois Valley Farmland REIT, PBC is a privately held Real Estate Investment Trust structured as a Public Benefit Corporation and Certified B Corporation, founded in 2007 to provide land security and capital access to organic and transitioning U.S. farmers. The company operates from Roanoke, Indiana (with a Chicago-area phone presence) and offers securities pursuant to SEC Regulation A+, Tier 2 exclusively to accredited and institutional investors. Its portfolio spans 119 farmland investments comprising approximately 34,500 acres (over 36,000 acres as of December 31, 2025) across 19 states, stewarded through 65+ farmer relationships, with a stated market value of $124.4 million as of Q1 2026.

The company's product set includes core REIT equity shares (offered to accredited individuals and institutions), Rooted in Regeneration Notes (a debt instrument financing farmland acquisitions), and the 721 Farmland Exchange (a tax-deferred structure for landowners divesting farmland). Supporting farmer-facing products include multi-year operating leases with purchase options, operating lines of credit, and Soil Restoration Notes. In January 2026 the company launched the Farmer Success Sharing Plan, awarding REIT common stock to qualifying organic farmer partners — a structurally novel mechanism that makes farmers equity holders alongside external investors. The technology stack is intentionally lean: Yardi for investor portfolio management and InvestorCafe as the investor portal, with no proprietary technology platform described.

Revenue is generated primarily through lease payments from farmer partners and capital appreciation as farmland transitions to USDA organic certification, augmented by interest income on debt notes and structuring fees on 721 Exchanges. Distribution is exclusively direct-to-investor via a dedicated investor portal, a Financial Advisor Network (including firms such as Chicory Wealth), and a dedicated institutional investor channel. The company is led by CEO Chris Zuehlsdorff (since February 2023) and Board Chair Anna Jones-Crabtree of Vilicus Farms, with a board that includes active organic farmers and a dedicated affiliated charitable entity, Healing Soils Foundation, that has awarded nearly $1 million in transition grants.

Name

Iroquois Valley Farmland REIT

Legal name

Iroquois Valley Farmland REIT

Website

https://iroquoisvalley.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Iroquois Valley Farmland REIT is a Public Benefit Corporation and Certified B Corporation operating since 2007 as a U.S. farmland REIT that provides long-term land access and capital to organic and transitioning farmers. It serves accredited and institutional investors via Regulation A+ offerings while stewarding 34,500+ acres across 19 states through 65+ farmer partnerships.

Ownership category

akta.pro rank

Product category

Farmland Real Estate Investment Trust (REIT)

NAICS

Oilseed and Grain Combination Farming (111191), Soil Preparation, Planting, and Cultivating (115112), Support Activities for Crop Production (11511)

SIC

Real Estate Investment Trusts (6798), Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Natural Resources Funds (Timberland, Farmland, Minerals) (FSANAEAK)

akta.pro secondary industries

Natural Resources — Farmland & Agriculture (FSAAAKAI), Land Trusts & Protected Areas (BPAGAGAC)

Keywords

• Farmland REIT
• Organic farmland investing
• Agricultural real estate
• Impact investing vehicles
• Regenerative agriculture finance

Headquarters

HQ city

Evanston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel, Others

Revenue model

1. Farmland REIT - Equity Returns: Investors purchase common equity shares in the Iroquois Valley Farmland REIT (Regulation A+, Tier 2). Returns are generated through: (1) leasing organic and transitioning farmland to farmer partners, and (2) appreciation of land values as properties achieve or progress toward USDA organic certification. The REIT generates revenue from land ownership and farmer lease payments.
2. Rooted in Regeneration Notes: Debt instrument (notes) offered to investors that supports organic farmland investment and farmer financing. These notes provide a return to investors while funding the company's work with regenerative farm operators.
3. 721 Farmland Exchange: A structure allowing landowners to exchange farmland for ownership shares in the professionally managed Iroquois Valley farmland portfolio. This provides an alternative exit path for landowners while expanding the company's farmland holdings under management.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels10 records

Core offering

Iroquois Valley Farmland REIT is a Public Benefit Corporation that acquires conventional farmland and leases it to organic and transitioning farmer partners across the United States. The company sells securities (common equity shares, debt notes, and tax-deferred exchange interests) to accredited and institutional investors, generating returns through farmland lease payments and long-term land value appreciation as properties achieve USDA organic certification. It also provides farmer financing products including mortgages, operating leases, operating lines of credit, and Soil Restoration Notes, and operates the Healing Soils Foundation charitable affiliate.

Product overview

Iroquois Valley Farmland REIT operates as a multi-product organic farmland investment platform offering three primary investment vehicles: REIT Equity Shares (common stock in the farmland REIT), Rooted in Regeneration Notes (debt investment), and the 721 Farmland Exchange (a tax-deferred exchange structure for landowners). The company also offers the Farmer Success Sharing Plan, a unique equity award program that grants REIT shares to qualifying farmer partners. On the financing side, Iroquois Valley provides mortgages, six-year operating leases with purchase options, operating lines of credit, and Soil Restoration Notes to support organic farmers. The company's charitable affiliate, Healing Soils Foundation, provides grant funding to farmers beyond what debt and equity products cover. Together, these products serve accredited and institutional investors seeking impact-driven returns alongside farmers seeking land access and organic transition support.

Differentiator

Problem solved

Functional benefit

Products and services

• REIT Equity Shares Common stock shares in the Iroquois Valley Farmland REIT that enable accredited and institutional investors to invest in a diversified portfolio of U.S. organic farmland and earn returns through lease income and land value appreciation as properties transition to USDA organic certification.
• Rooted in Regeneration Notes

Quantifiable outcome

• $124.4 million market value portfolio as of Q1 2026 (34,500+ acres, 119 investments, 65+ farmer relationships, 19 states)
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered minor and core.

• Realize ImpactminorGTM or Marketing Partner · 19 March 2026Co-hosted a March 2026 webinar with Matt Eldridge of Realize Impact on using Donor-Advised Funds (DAFs) for impact investing in regenerative farmland. Realize Impact is a philanthropic investment advisor that helps investors deploy philanthropic capital for impact.
• Rodale InstitutecoreStrategic or Co-development Partner · 18 February 2025Strategic partnership announced February 2025 focused on accelerating the transition of more U.S. farmland to USDA Certified Organic production. Rodale Institute is the global leader in regenerative organic agriculture research and education. The partnership aims to leverage Rodale's expertise and Iroquois Valley's farmland investment model to scale organic farmland transition.
• Pheasants Forever and Natural Resources Conservation ServiceminorStrategic or Co-development Partner · 10 February 2025Johnson Family Farm (an Iroquois Valley portfolio farm) partners with Pheasants Forever and the Natural Resources Conservation Service to convert low-performing land into native pollinator habitat. This reflects Iroquois Valley's broader approach to conservation easements and regenerative land stewardship.
• Healing Soils FoundationcoreStrategic or Co-development Partner · 19 November 2024The charitable affiliate of Iroquois Valley provides grants directly to farmers to help transition, build, and scale climate-resilient farms. Since its founding, Healing Soils has awarded nearly $1 million in grants supporting organic and regenerative land stewards in Iroquois Valley's portfolio and beyond. Operates as a distinct but affiliated entity.
• Local Farms FundminorStrategic or Co-development Partner · 11 August 2022Local Farms Fund identified the farmland opportunity for Justin Butts (Black Wind Farm) that led to Iroquois Valley's investment. The fund focuses on providing financing to early-stage farmers in the Northeast, and its pipeline referrals have contributed farmers to Iroquois Valley's portfolio.
• Food Finance Institute (FFI)minorStrategic or Co-development Partner · 23 January 2021FFI, a partner organization, leads a $387,000 three-year Beginning Farmer Rancher Development Program grant from USDA to lower the risk of beginning farm investments and make them more attractive to funders. Iroquois Valley participates as a capital partner in this initiative, working with FFI and other funders to provide financial technical assistance to beginning farmers.
• Organic Farming Research Foundation (OFRF)coreStrategic or Co-development Partner · 30 April 2020Partnership to support OFRF's national survey research on the challenges and priorities of organic farmers and farmers transitioning to organic certification. Includes collaboration with the Organic Seed Alliance (OSA). Funded in part by USDA NIFA's Organic Agriculture Research and Extension Initiative (OREI). Partnership includes farmer listening sessions, focus groups at major conferences (SSAWG, MOSES, EcoFarm, NOFA-NY, NFU), and a final report published in 2021.
• USDA Natural Resources Conservation Service (NRCS)coreStrategic or Co-development Partner · 3 January 2019Awarded a $700,000 Conservation Innovation Grant (CIG) to support farmers beyond land tenure through operating capital and improving farm viability. The grant partially funded Iroquois Valley's Soil Restoration Notes program targeting soil health and organic transition financing. The CIG program funds organizations developing next-generation conservation tools for agricultural lands.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• FarmTogether: FarmTogether is a tech-enabled farmland investment platform offering fractional ownership of U.S. farmland to accredited investors. Directly comparable GTM motion (online investor portal, accredited-investor focus), overlapping crop types (row crops, permanent crops), and similar use of SPVs/REIT-like structures to pool investor capital into farmland assets.
• AcreTrader: AcreTrader is a farmland investment marketplace that sells fractional shares in individual U.S. farmland parcels to accredited investors via an online platform. Comparable in investor type and farmland-only focus, though AcreTrader is less specialized in organic/regenerative and more general-row-crop oriented.
• Farmland LP: Farmland LP is a direct peer — a private equity fund that acquires and converts conventional farmland to organic and sustainable production, then leases it to farmers. Same target market (impact + accredited investors), same organic/regenerative thesis, and overlapping farmer-customer base in the U.S. Midwest and West.

Broad incumbents

• Peoples Company: Peoples Company is a leading U.S. farmland real estate brokerage and land management firm with a dedicated Land Investment division that manages institutional farmland portfolios. Comparable as a farmland capital partner across the Midwest, but operates on a brokerage/management model rather than owning farmland directly via a REIT.
• Gladstone Land Corporation: Gladstone Land is a publicly traded farmland REIT (NASDAQ: LAND) that owns and leases farmland across the U.S. to both conventional and organic farmers. It is the closest publicly traded comparable for valuation and structure benchmarking, though it is much larger and far less concentrated on organic/regenerative than Iroquois Valley.
• Westchester Group Investment Advisors: Westchester is one of the largest U.S. farmland investment managers, acquired by TIAA in 2010, managing diversified row-crop and permanent-crop portfolios for institutional clients. Comparable in farmland asset management and institutional investor focus, though far larger, more conventional, and not organic-specialized.

Emerging players

• Equilibrium Capital: Equilibrium Capital is an alternative asset manager with a real assets platform including a Controlled Environment Agriculture fund and natural/regenerative strategies. Overlapping investor base (institutional LPs seeking sustainability exposure) and adjacent farmland/land-use thesis, though more diversified across real assets than Iroquois Valley's pure organic-farmland focus.
• Root Capital: Root Capital is a nonprofit impact investor that lends to agricultural businesses in the U.S. and globally, including organic farmer cooperatives. Overlapping impact thesis and organic supply-chain mission, but focused on smallholder lending in developing markets and U.S. producer cooperatives rather than direct U.S. farmland ownership.
• Soilworks Capital: Soilworks Capital is a private debt fund providing loans to organic and regenerative farmers and food businesses. Comparable mission (financing the organic transition) and overlapping farmer-customers, but operates in debt rather than equity/land ownership and is at a smaller scale.
• Mad Agriculture: Mad Agriculture is a regenerative agriculture organization that supports farmers in transitioning to organic through consulting, financing, and brand/buyer matchmaking. Highly relevant overlap on the farmer-transition thesis and organic supply-chain mission, though it operates as a nonprofit/consulting hybrid rather than a capital-owning REIT.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/iroquois_valley
• Facebookfacebook.com/iroquoisvalley

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Iroquois Valley Farmland REIT