Farmland Partners Inc. - 10-Q filing on 2017-07-21

Mortgage Notes, Lines of Credit and Bonds Payable (Details)							6 Months Ended
	Feb. 03, 2017 USD ($)	Dec. 22, 2015 USD ($)	Aug. 18, 2015 USD ($)	Mar. 01, 2015	Jan. 14, 2015 USD ($)	Dec. 05, 2013 USD ($)	Jun. 30, 2017 USD ($) agreement	Jun. 30, 2016 USD ($)	Mar. 29, 2017	Feb. 14, 2017 USD ($)	Jan. 12, 2017 subsidiary	Dec. 31, 2016 USD ($)	Sep. 29, 2016	Aug. 31, 2016 USD ($)	Jun. 29, 2016 USD ($) subsidiary	Jun. 28, 2016	Mar. 29, 2016 USD ($) subsidiary	Feb. 29, 2016 USD ($) subsidiary	Aug. 03, 2015 USD ($)
Mortgage notes payable
Total mortgage notes and bonds payable, net							$ 485,009,000					$ 308,779,000
Debt issuance costs, net							(1,693,000)					(1,193,000)
Unamortized premium							50,000					110,000
Principal outstanding							486,652,000					309,862,000
Book Value of Collateral							933,739,000
Available borrowing capacity							3,100,000
Debt							486,700,000
Remaining borrowing capacity							0
Payment of debt issuance costs							659,000	$ 887,000
Accrued interest							3,079,000					1,538,000
Cash paid during period for interest							4,712,000	4,804,000
Accumulated amortization of deferred financing fees							400,000	700,000
Aggregate maturities of long-term debt
2017 (remaining six months)							81,100,000
2019							6,600,000
2020							48,300,000
Thereafter							350,652,000
Total							$ 486,652,000
Farmer Mac Facility \| Secured notes
Mortgage notes payable
Maximum aggregate principal amount																			$ 165,000,000
Effective loan-to-value ratios as a percentage of the appraised value of agricultural real estate securing such mortgage loans							60.00%
Outstanding debt							$ 155,500,000					155,500,000
Farmer Mac Facility \| Secured notes \| Minimum
Mortgage notes payable
Leverage ratio (as a percent)							60.00%
Fixed charge coverage ratio							1.50
Collateral value as percentage of aggregate principal amount of outstanding notes (as a percent)				100.00%
Total collateral value as percentage of aggregate principal amount of outstanding notes (as a percent)				110.00%
Bridge Loan Agreement
Mortgage notes payable
Number of subsidiaries \| subsidiary																		2
Loan																		$ 53,000,000
Payment of debt issuance costs								173,907
Cash paid during period for interest								2,271,867
Additional interest paid								$ 2,120,000
Additional interest, percentage								4.00%
MetLife
Mortgage notes payable
Interest rate (as a percent)									3.48%
Number of subsidiaries \| subsidiary															5		5
Payment of debt issuance costs							$ 800,000
MetLife \| Term Loan
Mortgage notes payable
Principal amount of loan																	$ 127,000,000
Maximum loan to value ratio							60.00%
MetLife \| Term Loan One
Mortgage notes payable
Interest rate (as a percent)																2.40%
Interest Rate (as a percent)							2.00%
Principal amount of loan																	90,000,000
MetLife \| Term Loan Two
Mortgage notes payable
Principal amount of loan																	16,000,000
MetLife \| Term Loan Three
Mortgage notes payable
Principal amount of loan																	$ 21,000,000
MetLife \| Term Loan Two and Three
Mortgage notes payable
Interest rate (as a percent)							2.66%
Minimum prepayment premium							20.00%
Percentage of conditional prepayment of loan without penalty							1.00%
MetLife \| Term Loan Four
Mortgage notes payable
Interest rate (as a percent)															2.39%
Rutledge Credit Facilities \| Secured notes
Mortgage notes payable
Non usage fee (as a percent)		0.25%	0.25%		0.25%	0.25%
Maximum aggregate principal amount		$ 15,000,000	$ 25,000,000		$ 25,000,000	$ 25,000,000
Number of loan agreements \| agreement							4
Period of calculation of non usage fee		3 months	3 months		3 months	3 months
Percentage of aggregate loan value that may not exceed the appraised value of collateralized properties	50.00%
Fifth Rutledge Loan Agreement \| Secured notes
Mortgage notes payable
Margin added to reference rate (as a percent)	1.30%
Non usage fee (as a percent)	0.25%
Maximum aggregate principal amount	$ 30.0
Period of calculation of non usage fee	3 months
Fifth Rutledge Loan Agreement \| Secured notes \| Maximum
Mortgage notes payable
Percentage to maintain leverage ratio	60.00%
LIBOR \| MetLife \| Term Loan One
Mortgage notes payable
Margin added to reference rate (as a percent)							1.75%
3 month LIBOR \| Rutledge Credit Facilities \| Secured notes
Mortgage notes payable
Margin added to reference rate (as a percent)		1.30%	1.30%		1.30%	1.30%
Mortgage notes payable \| Fair value \| Level 3
Aggregate maturities of long-term debt
Debt							$ 451,700,000					300,100,000
Farmer Mac Note 1 mortgage notes payable maturing September 2017
Mortgage notes payable
Principal outstanding							$ 20,700,000					20,700,000
Interest rate (as a percent)							2.40%
Interest Rate (as a percent)							2.40%
Book Value of Collateral							$ 30,352,000
Farmer Mac Note 2 mortgage notes payable maturing October 2017
Mortgage notes payable
Principal outstanding							$ 5,460,000					5,460,000
Interest rate (as a percent)							2.35%
Interest Rate (as a percent)							2.35%
Book Value of Collateral							$ 9,564,000
Farmer Mac Note 3 mortgage notes payable maturing November 2017
Mortgage notes payable
Principal outstanding							$ 10,680,000					10,680,000
Interest rate (as a percent)							2.50%
Interest Rate (as a percent)							2.50%
Book Value of Collateral							$ 11,507,000
Farmer Mac Note 4 mortgage notes payable maturing December 2017
Mortgage notes payable
Principal outstanding							$ 13,400,000					13,400,000
Interest rate (as a percent)							2.50%
Interest Rate (as a percent)							2.50%
Book Value of Collateral							$ 23,595,000
Farmer Mac Note 5 mortgage notes payable maturing December 2017
Mortgage notes payable
Principal outstanding							$ 30,860,000					30,860,000
Interest rate (as a percent)							2.56%
Interest Rate (as a percent)							2.56%
Book Value of Collateral							$ 56,218,000
Farmer Mac Note 6 mortgage notes maturing April 2025
Mortgage notes payable
Principal outstanding							$ 14,915,000					14,915,000
Interest rate (as a percent)							3.69%
Interest Rate (as a percent)							3.69%
Book Value of Collateral							$ 21,504,000
Farmer Mac Note 7 mortgage notes maturing April 2025
Mortgage notes payable
Principal outstanding							$ 11,160,000					11,160,000
Interest rate (as a percent)							3.68%
Interest Rate (as a percent)							3.68%
Book Value of Collateral							$ 18,447,000
Farmer Mac Note 8A mortgage notes maturing June 2020
Mortgage notes payable
Principal outstanding							$ 41,700,000					41,700,000
Interest rate (as a percent)							3.20%
Interest Rate (as a percent)							3.20%
Book Value of Collateral							$ 80,925,000
Farmer Mac Note 8B mortgage notes maturing May 2016 \| LIBOR
Mortgage notes payable
Margin added to reference rate (as a percent)							3.35%
Farmer Mac Note 9 mortgage notes maturing July 2020
Mortgage notes payable
Principal outstanding							$ 6,600,000					6,600,000
Interest rate (as a percent)							3.35%
Interest Rate (as a percent)							3.35%
Book Value of Collateral							$ 7,720,000
MetLife term loan notes maturing March 2026 One
Mortgage notes payable
Principal outstanding							$ 90,000,000					90,000,000
Interest rate (as a percent)							3.48%
Interest Rate (as a percent)							3.48%
Book Value of Collateral							$ 198,139,000
MetLife term loan notes maturing March 2026 One \| Minimum
Mortgage notes payable
Interest rate (as a percent)							2.00%
MetLife term loan notes maturing March 2026 One \| LIBOR \| Minimum
Mortgage notes payable
Margin added to reference rate (as a percent)							3.48%
MetLife term loan notes maturing March 2026 Two
Mortgage notes payable
Principal outstanding							$ 16,000,000					16,000,000
Interest rate (as a percent)							2.66%
Adjustment term for the interest rate on the debt instrument							3 years
Interest Rate (as a percent)							2.66%
Book Value of Collateral							$ 31,690,000
MetLife term loan notes maturing March 2026 Two \| LIBOR \| Minimum
Mortgage notes payable
Margin added to reference rate (as a percent)							2.66%
MetLife term loan notes maturing March 2026 Three
Mortgage notes payable
Principal outstanding							$ 21,000,000					21,000,000
Interest rate (as a percent)							2.66%
Adjustment term for the interest rate on the debt instrument							3 years
Interest Rate (as a percent)							2.66%
Book Value of Collateral							$ 27,498,000
MetLife term loan notes maturing June 2026 Four
Mortgage notes payable
Principal outstanding							$ 15,685,000					15,685,000			$ 15,700,000
Interest rate (as a percent)							3.48%
Margin added to reference rate (as a percent)							3.48%
Interest Rate (as a percent)							3.48%
Book Value of Collateral							$ 30,569,000
MetLife term loan notes maturing June 2026 Four \| Term Loan Four
Mortgage notes payable
Interest rate (as a percent)													2.60%
MetLife term loan notes maturing June 2026 Four \| LIBOR \| Minimum
Mortgage notes payable
Margin added to reference rate (as a percent)							1.75%
Metlife Term Loan Notes Maturing January 2027 Five
Mortgage notes payable
Principal outstanding							$ 8,379,000
Interest rate (as a percent)							3.26%
Adjustment term for the interest rate on the debt instrument							3 years
Interest Rate (as a percent)							3.26%
Book Value of Collateral							$ 16,549,000
Metlife Term Loan Notes Maturing February 2027 Six
Mortgage notes payable
Principal outstanding							$ 27,158,000
Interest rate (as a percent)							3.21%
Interest Rate (as a percent)							3.21%
Book Value of Collateral							$ 55,340,000
MetLife term loan five
Mortgage notes payable
Principal outstanding							$ 8,400,000
Number of subsidiaries \| subsidiary											5
MetLife term loan five \| Term Loan Five
Mortgage notes payable
Interest rate (as a percent)											3.26%
MetLife term loan six
Mortgage notes payable
Principal outstanding										$ 27,200,000
Adjustment term for the interest rate on the debt instrument							3 years
MetLife term loan six \| Term Loan Six
Mortgage notes payable
Interest rate (as a percent)										3.21%
MetLife term loan seven
Mortgage notes payable
Principal outstanding							$ 21,253,000
Interest rate (as a percent)							3.45%
Adjustment term for the interest rate on the debt instrument							3 years
Interest Rate (as a percent)							3.45%
Book Value of Collateral							$ 46,994,000
Farm Credit of Central Florida mortgage note maturing September 2023
Mortgage notes payable
Principal outstanding							$ 5,102,000					5,102,000		$ 8,200,000
Interest rate (as a percent)							2.6875%
Interest Rate (as a percent)							3.81%
Book Value of Collateral							$ 9,691,000
Coverage Ratio							1.25
Prudential
Mortgage notes payable
Principal outstanding							$ 6,600,000					$ 6,600,000
Interest rate (as a percent)							3.20%
Interest Rate (as a percent)							3.20%
Book Value of Collateral							$ 11,659,000
Prudential \| Maximum
Mortgage notes payable
Leverage ratio (as a percent)							60.00%
Rutledge Line of Credit #1
Mortgage notes payable
Principal outstanding							$ 25,000,000
Interest Rate (as a percent)							2.45%
Book Value of Collateral							$ 46,041,000
Rutledge Line of Credit #2
Mortgage notes payable
Principal outstanding							$ 25,000,000
Interest Rate (as a percent)							2.45%
Book Value of Collateral							$ 50,061,000
Rutledge Line of Credit #2 \| 3 month LIBOR
Mortgage notes payable
Margin added to reference rate (as a percent)							1.30%
Rutledge Line of Credit #3
Mortgage notes payable
Principal outstanding							$ 25,000,000
Interest Rate (as a percent)							2.45%
Book Value of Collateral							$ 59,354,000
Rutledge Line of Credit #3 \| 3 month LIBOR
Mortgage notes payable
Margin added to reference rate (as a percent)							1.30%
Rutledge Line of Credit #4
Mortgage notes payable
Principal outstanding							$ 15,000,000
Interest Rate (as a percent)							2.45%
Book Value of Collateral							$ 28,398,000
Rutledge Line of Credit #4 \| 3 month LIBOR
Mortgage notes payable
Margin added to reference rate (as a percent)							1.30%
Rutledge Line of Credit #5
Mortgage notes payable
Principal outstanding							$ 30,000,000
Interest Rate (as a percent)							2.45%
Book Value of Collateral							$ 61,924,000