Homestead Capital acquires 105-acre vineyard in Napa County, US
Equity investment firm, Homestead Capital has acquired an 105-acre vineyard in the Chiles Valley of Napa County in the US state of California.
Through the acquisition, Homestead plans to grow as a independent wine grape producer, offering quality fruit to wineries in the region.
The vineyard has been planted primarily with Cabernet Sauvignon and Sauvignon Blanc, but also includes small blocks of other red Bordeaux varieties.
Homestead says that the acquisition further expands its presence in the wine grape industry, after it purchased a 284.7-acre vineyard located in the Santa Maria Valley of Santa Barbara County a vineyard producing Cabernet Sauvignon, Merlot, and Syrah in Eastern Washington in December 2015.
The vineyard was sourced by Homestead’s Pacific Region farm manager Richard Brockmeyer and he has been given the responsibility of managing the property. Dickenson, Peatman & Fogarty acted as acquisition counsel for Homestead.
Homestead Permanent Crops vice president Alex Sauer said: "We are very excited to add the Sage Creek Vineyard to our permanent crop portfolio.
“The vineyard’s location in the Napa Valley American Viticultural Area provides us with a unique opportunity to establish a platform property focused on meeting the needs of high-end Napa Valley wineries.”
In last November, Homestead held a final close of Homestead Capital USA Farmland Fund II, its second fund, at a hard cap of $400m in limited partner capital commitments.
Located in San Francisco, California, Homestead Capital is an investment company that plans to acquire farm investments in the Mountain West, Pacific, Midwest and Delta regions, and construct a diversified portfolio of assets across those regions, crops, lease types, farm operators and certain other risk factors.
Image: Homestead Capital acquires 105 acre vineyard in Napa County, California. Photo: Courtesy of khumthong/FreeDigitalPhotos.net.