2,500 Acres - Alfalfa & Campo Land
Good Income, 15 Miles from San Rafael

THIS PROPERTY HAS SOLD

Excellent Soil & Lots of Water -- 6 Irrigation Wells,
5 Tractors with Mowers & Balers

2,550 Total Acres (1,036 hectares):

This beautiful farm in La Nora, about 15 miles north of San Rafael,
has 190 hectares (470 acres) currently producing 5 cuttings of
high-protein Argentine variety of alfalfa per year.

There are another 110 hectares (270 acres) leveled and ready
for planting, awaiting a new feeder irrigation canal which is on
target for completion within 90 days. The alfalfa fields are divided
into working parcels of 10 hectares each (25 acres).

Current yields are 15 to 20 rolls (400kg per roll) per hectare,
cut every 21 to 28 days -- resulting in no less than 5 cuttings per
summer. One roll returns 128 pesos at local prices-- meaning 2,000 to
2,500 pesos gross per cut -- or 10,000 to 12,500 pesos per hectare
per year (US$2,600 to $3,200 per hectare per year gross).

The alfalfa fields are irrigated by flood irrigation from canal water rights,
aided by two large irrigation canals and pumps which deliver at a rate of
250,000 liters per hour each. Three pumps have working 40hp/30kw motors,
two have working pumps and the sixth well is pipe only. Wells are at an
average depth of 60 meters each.

The property is laid out with an extensive network of internal roads with
cement bridges over irrigation trenches, which facilitates the cutting and
baling operation and movement of trucks and equipment around the farm.

Irrigation ponds hold a total of 150 million liters of water, and canal
water provides 1 to 2 million liters per hour. Current canal irrigation
rights consist of 84 hours per week, but are projected to jump to 24
hours per day when the new feeder canal work is completed.

Soil quality is excellent, a sandy loam with virtually no salt content,
lacking rocks or gravel, and sufficient water to put at least 500 more
hectares (1,200 acres) into additional production as alfalfa, corn,
vineyard, orchard or olives.

Since the rest of the farm -- in virgin campo -- is relatively level in most
areas, the cost for clearing was recently bid out at 1,000 pesos (US$265) per
hectare ($110 per acre) to make ready for disking and seeding.

On-site management and contracts to purchase the production are
also possibilities, making this large expansive estate a unique opportunity
for a foreign investor.

There is a large brick barn, a caretaker's house and 5 tractors with
mowing and baling equipment included in the sale, plus other agricultural
machinery. The equipment (some of which is pictured below) has a
used "fair sale" value of US$150,000.

Additional infrastructure (barn, wells, worker's house, fencing, etc.) has
a depreciated value of an additional US$190,000, but could not be
replaced for anywhere close to that cost if built and installed new.

Previously the land was in high-end pear orchard, which do spectacularly
in this area, and a long row of Williams pears (Bartletts), still remain at
the front of the property near the entrance.

The farm is located near the Estancia El Globo -- the huge and
impressive vineyard, olive, alfalfa and garlic operation partially
owned by the ex-president of Argentina.

(NOTE: Details above were provided by the farm's administrative
management, and are subject to verification.)