Spring 2012
For anyone involved with agriculture — whether in farming, farmland ownership or managing a diversified institutional investment portfolio — farmland properties often have more than one life. We frequently mark events in our own lives by the milestones of a piece of land. And after you have been in this business for several years, it’s not unusual for the same property to enter your life more than once.
Download PDFWinter 2011
New Look. Same Principles. Westchester has a new logo and a newly designed website. But what hasn't changed is Westchester's commitment to excellence, integrity and tradition. Our team is growing in Australia and Brazil as we continue to meet our goal of owning farmland in all the major grain exporting countries around the world.
Download PDFChina's Land Problem
Readers could pick just about any business or agricultural publication at random these days and hit an article about the Chinese growth miracle... about this becoming the “Chinese Century.” And the reason is simple enough: the giant nation’s recent economic success begs discussion and analysis. However, China is bumping up against a shortage of important natural resources that could limit that country’s growth prospects. The declining resources? Farmland and water. One of the results of the Chinese economic miracle is the emergence of a growing, thriving middle class. This growth is fed by migration from the country to cities and is happening in such numbers that their need for housing and other amenities is gobbling up arable land and diverting water from farming. According to Worldwatch Institute, urban construction has taken more than 2 million hectares of farmland out of production. Even worse, Eastern China where the building is most rapid, includes most of the top farmland in the nation. In the West, government eco-policies have encouraged the conversion of marginal farmland to forest or grassland re-planting. The net effect is to reduce China’s farmland by 8 million hectares—just less than 7%--in the past decade.
Download PDFEvolution
Teachers Insurance and Annuity Association of America (TIAA) has acquired a controlling interest in Westchester Group, Inc. (Westchester), one of the nation’s premiere, independent agricultural asset managers. There are going to be some changes. As you can tell by the above headline from the original TIAA-CREF press release, TIAA, a diversified financial services company with some $430 billion of assets under management, has purchased a substantial portion of Westchester’s assets, including the institutional investment business and our farm management and real estate business.
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