I recently wrote a piece about growing interest in California farmland by massive investment funds. But almonds and other tree nuts, the main focus of my article, aren’t the only commodities drawing interest from the smart-money crowd. From what I can tell, a successful California farmland investment requires these two conditions: 1) a sought-after commodity, preferably one with a booming export market; and 2) access to water for irrigation—increasingly important as California’s drought lurches on.
Harvard University’s famed $36 billion endowment fund, the biggest of any US university, has alighted upon just such a sweet spot in California’s coastal Paso Robles wine region, north of Los Angeles.
To read the full story please visit Mother Jones.