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Real Estate
12 Months Ended
Dec. 31, 2021
Real Estate  
Real Estate

Note 5—Real Estate

The Company completed 12 acquisitions, consisting of 12 properties, in the Corn Belt, Delta and South, High Plains, Southeast and West Coast regions during the year ended December 31, 2021. Aggregate consideration for these acquisitions totaled $81.2 million of which $28.4 million was paid through the issuance of notes payable. No intangible assets were acquired through these acquisitions.

The Company completed three acquisitions, consisting of 3 properties, in Illinois and Michigan during the year ended December 31, 2020. Aggregate consideration for these acquisitions totaled $1.4 million and was comprised of $0.9 million in cash and $0.5 million reduction in notes receivable and related interest to the seller through the acquisition of collateralized property. No intangible assets were acquired through these acquisitions.

During the year ended December 31, 2021, the Company completed 12 dispositions consisting of 20 properties in the Corn Belt, Delta and South and Southeast regions. The Company received cash consideration for these dispositions totaling $70.6 million and $2.4 million of convertible notes receivable (which was subsequently converted to membership interests in the OZ Fund on July 16, 2021), and recognized an aggregate gain on sale of $9.3 million.

During the year ended December 31, 2020, the Company completed seven dispositions, consisting of eleven farms, in Texas, Illinois, Nebraska, Arkansas, and Mississippi. Cash receipts totaled $20.1 million with a total gain on sale of $3.2 million.