|
Borrowings - Additional Information (Detail) (USD $)
|
12 Months Ended |
0 Months Ended |
3 Months Ended |
0 Months Ended |
|
|
|
|
|
|
Dec. 31, 2014
Farm
|
Dec. 31, 2013
Farm
|
Dec. 31, 2012
|
Dec. 31, 2014
|
May 09, 2014
|
Sep. 29, 2014
|
Sep. 30, 2014
Farm
|
Dec. 11, 2014
|
Sep. 19, 2014
|
Nov. 30, 2002
|
Dec. 30, 2010
|
May 23, 2012
|
Dec. 12, 2014
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average interest rate on borrowings |
3.60%land_DebtInstrumentWeightedAverageInterestRate
|
3.60%land_DebtInstrumentWeightedAverageInterestRate
|
3.70%land_DebtInstrumentWeightedAverageInterestRate
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument interest rate |
Three-month LIBOR plus 3.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
| Expiration date of commitment |
May 31, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
| Note payable, outstanding |
$ 82,417,361us-gaap_SecuredLongTermDebt
|
$ 43,054,165us-gaap_SecuredLongTermDebt
|
|
$ 82,417,361us-gaap_SecuredLongTermDebt
|
|
|
|
|
|
|
|
|
|
| Line of credit, carrying value |
4,000,000us-gaap_LineOfCredit
|
100,000us-gaap_LineOfCredit
|
|
4,000,000us-gaap_LineOfCredit
|
|
|
|
|
|
|
|
|
|
| Unamortized deferred financing costs |
1,039,714us-gaap_DeferredFinanceCostsNet
|
309,933us-gaap_DeferredFinanceCostsNet
|
|
1,039,714us-gaap_DeferredFinanceCostsNet
|
|
|
|
|
|
|
|
|
|
| Number of Farms |
11land_NumberOfFarmsAcquired
|
9land_NumberOfFarmsAcquired
|
|
|
|
|
|
|
|
|
|
|
|
| MetLife [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument face amount |
|
|
|
|
125,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember
|
|
|
|
|
|
|
|
|
| Maturity Date |
May 09, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
| New Credit Facility maximum borrowing capacity, percentage |
|
|
|
|
58.00%land_DebtInstrumentMaximumBorrowingCapacityPercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember
|
|
|
|
|
|
|
|
|
| Loan fees aggregate amount |
220,500us-gaap_DebtInstrumentFeeAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember
|
|
|
220,500us-gaap_DebtInstrumentFeeAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember
|
|
|
|
|
|
|
|
|
|
| Aggregate financing costs |
|
|
|
614,646us-gaap_DebtIssuanceCosts / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember
|
|
|
|
|
|
|
|
|
|
| Unamortized deferred financing costs |
298,614us-gaap_DeferredFinanceCostsNet / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember
|
|
|
298,614us-gaap_DeferredFinanceCostsNet / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember
|
|
|
|
|
|
|
|
|
|
| Availability of credit facility |
13,800,000us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember
|
|
|
13,800,000us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember
|
|
|
|
|
|
|
|
|
|
| Additional availability of credit facility |
1,600,000us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember
|
|
|
|
|
|
|
|
|
|
|
|
|
| Farm Credit [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maturity Date |
Aug. 01, 2034
|
|
|
|
|
|
|
|
|
|
|
|
|
| Blended fixed interest rate |
3.53%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
3.53%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
|
|
|
|
|
|
|
| Debt instrument covenants description |
A net worth value in excess of $50,000,000; and a maximum leverage ratio of equal to or less than sixty-five percent (65%).
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument, net worth value |
50,000,000land_DebtCovenantMinimumTangibleNetWorth / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
50,000,000land_DebtCovenantMinimumTangibleNetWorth / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
|
|
|
|
|
|
|
| Loan fees aggregate amount |
78,211us-gaap_DebtInstrumentFeeAmount / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
78,211us-gaap_DebtInstrumentFeeAmount / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
|
|
|
|
|
|
|
| Aggregate financing costs |
126,640us-gaap_DebtIssuanceCosts / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
|
|
|
|
|
|
|
|
|
|
| Aggregate notes payable |
|
|
|
|
|
|
|
|
4,200,000us-gaap_NotesPayable / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
|
|
| Additional borrowings |
|
|
|
|
|
8,300,000us-gaap_ProceedsFromIssuanceOfDebt / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
|
|
|
|
|
| Total borrowings from credit notes payable |
12,400,000us-gaap_NotesAndLoansPayable / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
12,400,000us-gaap_NotesAndLoansPayable / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
|
|
|
|
|
|
|
| Credit notes payable interest rate there after, Description |
LIBOR, plus 2.875%.
|
|
|
|
|
|
|
|
|
|
|
|
|
| Credit notes payable interest rate there after |
2.875%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
|
|
|
|
|
|
|
|
|
|
| Original principal amounts as a percent of aggregate appraised value |
60.00%land_OriginalPrincipalAmountsBorrowedAsPercentOfAggregateAppraisedValueOfRealProperties / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
60.00%land_OriginalPrincipalAmountsBorrowedAsPercentOfAggregateAppraisedValueOfRealProperties / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
|
|
|
|
|
|
|
| Number of Farms |
|
|
|
|
|
|
3land_NumberOfFarmsAcquired / us-gaap_LineOfCreditFacilityAxis = land_FarmCreditMember
|
|
|
|
|
|
|
| Notes payable of principal and interest due period |
12 months
|
|
|
|
|
|
|
|
|
|
|
|
|
| Agrifinance [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revolving line of credit facility |
|
|
|
|
|
|
|
|
|
3,300,000us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity / us-gaap_LineOfCreditFacilityAxis = land_AgrifinanceMember
|
|
|
|
| Farmer Mac Facility [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument covenants description |
A maximum leverage ratio of not more than 65%; a minimum fixed charge coverage ratio of 1.4; and a minimum tangible net worth in excess of $50,000,000 (plus a certain percentage of future equity offerings).
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument, net worth value |
50,000,000land_DebtCovenantMinimumTangibleNetWorth / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember
|
|
|
50,000,000land_DebtCovenantMinimumTangibleNetWorth / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember
|
|
|
|
|
|
|
|
|
|
| Aggregate financing costs |
41,781us-gaap_DebtIssuanceCosts / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember
|
|
|
|
|
|
|
|
|
|
|
|
|
| Additional borrowings |
10,200,000us-gaap_ProceedsFromIssuanceOfDebt / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument, maximum leverage ratio |
0.65land_DebtInstrumentMaximumLeverageRatio / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument, minimum fixed charge coverage ratio |
1.4land_DebtInstrumentCovenantFixedChargeCoverageRatioMinimum / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember
|
|
|
1.4land_DebtInstrumentCovenantFixedChargeCoverageRatioMinimum / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember
|
|
|
|
|
|
|
|
|
|
| Percentage of outstanding bonds held by bond purchasers |
110.00%land_AggregatePrincipalAmountOfOutstandingBondsPercentage / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember
|
|
|
|
|
|
|
|
|
|
|
|
|
| New Line of Credit [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maturity Date |
Apr. 05, 2024
|
|
|
|
|
|
|
|
|
|
|
|
|
| New Line of Credit [Member] | MetLife [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument face amount |
4,785,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_LineOfCreditMember
|
|
|
4,785,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_LineOfCreditMember
|
25,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_LineOfCreditMember
|
|
|
|
|
|
|
|
|
| Maturity Date |
Apr. 05, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
| Blended fixed interest rate |
|
3.25%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_LineOfCreditMember
|
|
|
|
|
|
|
|
|
|
|
|
| Commitment fee on undrawn amount |
0.20%land_DebtInstrumentCommitmentFeePercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_LineOfCreditMember
|
|
|
0.20%land_DebtInstrumentCommitmentFeePercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_LineOfCreditMember
|
|
|
|
|
|
|
|
|
|
| Debt instrument interest rate |
Three-month LIBOR plus a spread of 2.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
| Minimum annualized rate |
2.75%land_DebtInstrumentMinimumAnnualizedRate / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_LineOfCreditMember
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument covenants description |
A debt-to-asset-value ratio of equal to or less than sixty-five percent (65%); a net worth value in excess of $50,000,000; a debt-to-two-times-net-worth ratio of equal to or less than 0.65; and a rental-revenue-to-debt ratio of equal to or greater than 5.0%.
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument, net worth value |
50,000,000land_DebtCovenantMinimumTangibleNetWorth / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_LineOfCreditMember
|
|
|
50,000,000land_DebtCovenantMinimumTangibleNetWorth / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_LineOfCreditMember
|
|
|
|
|
|
|
|
|
|
| Prior Note Payable [Member] | MetLife [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maturity Date |
Jan. 05, 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
| Blended fixed interest rate |
3.50%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_PriorNotePayableMember
|
|
|
3.50%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_PriorNotePayableMember
|
|
|
|
|
|
|
|
|
|
| Commitment fee on undrawn amount |
0.20%land_DebtInstrumentCommitmentFeePercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_PriorNotePayableMember
|
|
|
0.20%land_DebtInstrumentCommitmentFeePercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_PriorNotePayableMember
|
|
|
|
|
|
|
|
|
|
| Remaining balance available to disburse under MetLife Note Payable |
0land_RemainingBalanceAvailableToDisburseUnderMortgageLoan / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_PriorNotePayableMember
|
|
|
0land_RemainingBalanceAvailableToDisburseUnderMortgageLoan / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_PriorNotePayableMember
|
|
|
|
|
|
|
|
|
|
| Prior Note Payable [Member] | MetLife [Member] | Maximum [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument face amount |
|
|
|
|
|
|
|
|
|
|
45,200,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_PriorNotePayableMember / us-gaap_RangeAxis = us-gaap_MaximumMember
|
|
|
| Prior Line of Credit [Member] | MetLife [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument face amount |
|
|
|
|
|
|
|
|
|
|
|
4,800,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_PriorLineOfCreditFacilityMember
|
|
| Maturity Date |
Apr. 05, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage Note Payable [Member] | MetLife [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument face amount |
45,200,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
|
|
45,200,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
100,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
|
|
|
|
|
|
|
|
| Maturity Date |
Jan. 05, 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
| Blended fixed interest rate |
3.50%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
3.50%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
|
3.50%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
|
|
|
|
|
|
|
|
|
| Commitment fee on undrawn amount |
0.20%land_DebtInstrumentCommitmentFeePercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
|
|
0.20%land_DebtInstrumentCommitmentFeePercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
|
|
|
|
|
|
|
|
|
| Period for interest rate adjustment |
3 years
|
|
|
|
|
|
|
|
|
|
|
|
|
| Expiration date of commitment |
Dec. 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of credit, carrying value |
4,000,000us-gaap_LineOfCredit / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
|
|
4,000,000us-gaap_LineOfCredit / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
|
|
|
|
|
|
|
|
|
| Mortgage Note Payable [Member] | MetLife [Member] | Maximum [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maturity Date |
Jan. 05, 2029
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage Note Payable [Member] | Mortgage Notes and Bonds Payable [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Aggregate fair value of mortgage notes payable outstanding |
82,000,000us-gaap_LongTermDebtFairValue / us-gaap_LineOfCreditFacilityAxis = land_MortgageNotesAndBondsPayableMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
|
|
82,000,000us-gaap_LongTermDebtFairValue / us-gaap_LineOfCreditFacilityAxis = land_MortgageNotesAndBondsPayableMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
|
|
|
|
|
|
|
|
|
| Mortgage notes payable, carrying value |
82,400,000us-gaap_SecuredDebt / us-gaap_LineOfCreditFacilityAxis = land_MortgageNotesAndBondsPayableMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
|
|
82,400,000us-gaap_SecuredDebt / us-gaap_LineOfCreditFacilityAxis = land_MortgageNotesAndBondsPayableMember / us-gaap_LongtermDebtTypeAxis = us-gaap_NotesPayableToBanksMember
|
|
|
|
|
|
|
|
|
|
| Mortgage Note Payable [Member] | MetLife [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument face amount |
100,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_NewNotesPayableMember
|
|
|
100,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_NewNotesPayableMember
|
|
|
|
|
|
|
|
|
|
| Maturity Date |
Jan. 05, 2029
|
|
|
|
|
|
|
|
|
|
|
|
|
| Blended fixed interest rate |
3.61%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_NewNotesPayableMember
|
|
|
3.61%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_NewNotesPayableMember
|
|
|
|
|
|
|
|
|
|
| Note payable, outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
66,300,000us-gaap_SecuredLongTermDebt / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_NewNotesPayableMember
|
| New Line of Credit [Member] | MetLife [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument face amount |
25,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_NewLineOfCreditMember
|
|
|
25,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_NewLineOfCreditMember
|
|
|
|
|
|
|
|
|
|
| Maturity Date |
Apr. 05, 2024
|
|
|
|
|
|
|
|
|
|
|
|
|
| Blended fixed interest rate |
2.75%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_NewLineOfCreditMember
|
|
|
2.75%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_NewLineOfCreditMember
|
|
|
|
|
|
|
|
|
|
| Line of credit, carrying value |
4,000,000us-gaap_LineOfCredit / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_NewLineOfCreditMember
|
|
|
4,000,000us-gaap_LineOfCredit / us-gaap_LineOfCreditFacilityAxis = land_MetlifeMember / us-gaap_LongtermDebtTypeAxis = land_NewLineOfCreditMember
|
|
|
|
|
|
|
|
|
|
| Bonds Payable [Member] | Farmer Mac Facility [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt instrument face amount |
75,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember / us-gaap_LongtermDebtTypeAxis = us-gaap_CorporateBondSecuritiesMember
|
|
|
75,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember / us-gaap_LongtermDebtTypeAxis = us-gaap_CorporateBondSecuritiesMember
|
|
|
|
|
|
|
|
|
|
| Blended fixed interest rate |
|
|
|
|
|
|
|
3.25%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember / us-gaap_LongtermDebtTypeAxis = us-gaap_CorporateBondSecuritiesMember
|
|
|
|
|
|
| Additional borrowings |
|
|
|
|
|
|
|
$ 3,700,000us-gaap_ProceedsFromIssuanceOfDebt / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember / us-gaap_LongtermDebtTypeAxis = us-gaap_CorporateBondSecuritiesMember
|
|
|
|
|
|
| Maximum loan-to-value ratio |
60.00%land_LoansReceivableLoanToValueRatioMaximum / us-gaap_LineOfCreditFacilityAxis = land_FarmerMacFacilityMember / us-gaap_LongtermDebtTypeAxis = us-gaap_CorporateBondSecuritiesMember
|
|
|
|
|
|
|
|
|
|
|
|
|
| Expiration term |
|
|
|
|
|
|
|
5 years
|
|
|
|
|
|