Limoneira Gets $10 Million as Part of Cash Distribution From Real Estate Development Joint Venture-April 2024-www.financetom.com

Limoneira Gets $10 Million as Part of Cash Distribution From Real Estate Development Joint Venture

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Limoneira Gets $10 Million as Part of Cash Distribution From Real Estate Development Joint Venture

Apr 9, 2025 7:38 AM

10:26 AM EDT, 04/09/2025 (MT Newswires) -- Limoneira ( LMNR ) said Wednesday that it has received $10 million as its share of a $20 million cash distribution from its 50/50 real estate development joint venture, Harvest at Limoneira ( LMNR ), with the Lewis Group of Companies.

The distribution is from the joint venture's available cash, totaling $62.4 million as of Jan. 31. Limoneira ( LMNR ) expects to receive $180 million in total from this venture over the next seven years, with about $15 million received in fiscal year 2024, the agribusiness company said.

Harvest at Limoneira ( LMNR ) is a community in Santa Paula, California that offers various housing options, according to the company.

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