Shafter Almond Orchard (FARM)California
NEC Riverside St and Beech Ave Lot 24, 25, 26, 26 Sec 14/28S/T25E Shafter, CA 46.055 acres Standard Management Company acquired an almond orchard in Shafter, CA in 2005. Located just outside of Bakersfield, the orchard is located in Kern County, the county with the highest almond production in the country. Initially acquired with the intention of future development, the orchard has continued to be operated as an almond producer by the Martin Hein Ranch Company. With the recent rise in almond prices, this has proved to be a highly profitable decision. Annual net income for the orchard has averaged approximately 12% of the cost basis of the property. This is yet another example of a situation in which reality did not follow the original expectations.