MCLEAN, Va., July 21, 2014 (GLOBE NEWSWIRE) -- Gladstone Land Corporation (Nasdaq:LAND) (the "Company") announced that on July 15, 2014, Danielle Jones resigned as the Chief Financial Officer of Gladstone Land Corporation (the "Company"), and the board of directors accepted her resignation and appointed Lewis Parrish, the Company's current Chief Accounting Officer, as Chief Financial Officer. The plan for this transition has been in the works for some time to allow Ms. Jones to focus her attention on Gladstone Commercial Corporation ("Gladstone Commercial"). Ms. Jones will remain in her position as the Company's Treasurer and will continue to serve as the Chief Financial Officer and Treasurer for Gladstone Commercial, an affiliate of the Company. Ms. Jones and Mr. Parrish will continue to work collaboratively regarding matters impacting the Company.
Mr. Parrish, age 35, has served as the Company's Chief Accounting Officer since April 2013. Prior to that time, Mr. Parrish served as Controller for both the Company and Gladstone Investment Corporation, a business development company that is an affiliate of the Company, from March 2011 to April 2013, and he was an Accounting Manager for Gladstone Investment Corporation from September 2009 to March 2011. He also served as a Senior Accountant for Gladstone Investment Corporation from August 2008 to September 2009.
About Gladstone Land:Gladstone Land is seeking to be a real estate investment trust that pays monthly dividends to its stockholders, and the Company intends to report the current value of its farmland on a quarterly basis. Gladstone Land invests in farmland located in major agricultural markets in the United States that it leases to corporate and independent farmers. The Company currently owns 6,439 acres on 26 farms in 5 different states across the U.S., appraised at an aggregate value of approximately $132 million. Its acreage is predominantly concentrated in locations where its tenants are able to grow row crops, such as berries and vegetables, which are planted and harvested annually, or more frequently, as well as more permanent crops, such as blueberries. The Company also may acquire property related to farming, such as storage facilities utilized for cooling crops, processing plants, packaging facilities and distribution centers. The Company has paid 17 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. Additional information can be found at www.GladstoneLand.com Owners or brokers who have farmland for sale in the United States should call (703) 287-5839.
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