"These assets are all underpinned by triple net leases with CPI-linked rental adjustments, resulting in NZRL being well positioned in an inflationary environment," he said.
The 564-hectare Argyle Downs farm is to be leased to a new tenant with CPI linked rent reviews for an initial term of 11 years.
Greenhill (366 hectares) is to be leased to a new tenant with CPI-linked rent reviews for an initial term of 10 years.
NZ Rural Land has been placed in a trading halt on the NZX while the company undertakes the institutional bookbuild element of an accelerated offer.
Last November, New Zealand Rural bought a large scale dairy asset portfolio comprised of six dairy assets in Maniototo, Central Otago totalling approximately 3500 hectares, for $61.40m, funded mostly through debt.
Shares in NZ Rural Land debuted on the NZX in December 2020, at $1.31, a small premium to their $1.25 issue price.