16 April 2026, San Francisco: FarmTogether has launched Riviera Avocado Grove, the firm’s first investment offering focused on avocados, marking an expansion into one of the fastest-growing segments of U.S. permanent cropland.
Located in the coastal foothills of Santa Barbara County, California, a leading avocado-producing region known for its temperate coastal climate and consistent growing conditions, the property consists of a mature Hass avocado grove supported by a multi-source water system. The asset is managed by a local operator with a track record in California permanent crops. The offering is structured as a 10-year hold, targeting a 10.5% net internal rate of return (IRR) and a 9.3% net cash yield, and is available as both a crowdfunded investment and a tenancy-in-common structure that may be eligible for 1031 exchanges.
The launch comes amid continued growth in U.S. avocado consumption, alongside structural constraints on domestic supply driven by geographic limitations, water availability, and the concentration of production in a small number of regions. With limited scalable acreage in coastal California and increasing reliance on imports to meet demand, domestic avocado production remains supply-constrained.
“Avocados represent a notable segment within permanent cropland, driven by sustained consumer demand and constrained domestic supply,” said Gretchen Montague, Head of Farm Management at FarmTogether. “We view high-quality avocado assets in coastal California as positioned to generate income and long-term value, particularly when supported by strong growing conditions and experienced local operators.”
Riviera Avocado Grove is operated by an experienced local farm management partner with whom FarmTogether has maintained a long-standing relationship. The property’s location above Goleta provides proximity to established agricultural infrastructure and access to reliable water resources.
FarmTogether continues to expand its farmland investment platform across crop types and geographies, with a focus on high-value permanent crops in key U.S. growing regions. The firm’s approach emphasizes disciplined underwriting, operational partnerships, and long-term asset management.
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