Gladstone Land Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- COVER
Financial Statements
Notes to Financial Statements
Accounting Policies
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
Notes Tables
Notes Details

BORROWINGS - Additional Information (Details)

v3.21.2

BORROWINGS - Additional Information (Details)	3 Months Ended			9 Months Ended
BORROWINGS - Additional Information (Details)	Sep. 30, 2021 USD ($) agreement	Mar. 31, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2021 USD ($) agreement	Sep. 30, 2020 USD ($)	Feb. 04, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 10, 2020 USD ($)	Feb. 20, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 05, 2014 USD ($)
Debt Instrument [Line Items]
Net cost basis	$ 1,178,621,000			$ 1,178,621,000
Other income	20,000		$ 323,000	2,274,000	$ 1,668,000
Borrowings under lines of credit	100,000			100,000			$ 100,000
Borrowings
Debt Instrument [Line Items]
Net cost basis	$ 1,100,000,000			$ 1,100,000,000
Weighted average interest rate	3.74%		4.03%	3.72%	3.99%
Farm Credit Notes Payable
Debt Instrument [Line Items]
Interest rate decrease				28.70%	28.70%
Basis spread on variable rate decrease				1.35%	1.35%
Number of loan agreements \| agreement	13			13
Other income		$ 2,200,000	$ 306,000	$ 2,500,000
MetLife Facility
Debt Instrument [Line Items]
Face amount of debt										$ 200,000,000
Maximum borrowing capacity										75,000,000
MetLife Facility \| Notes and bonds payables
Debt Instrument [Line Items]
Face amount of debt	$ 75,000,000			75,000,000					$ 75,000,000
Undrawn Commitment	38,100,000			38,100,000						$ 21,500,000
Farmer Mac Facility
Debt Instrument [Line Items]
Face amount of debt						$ 2,460,000		$ 225,000,000			$ 125,000,000
Secured debt	84,800,000			84,800,000
Mortgage Notes and Bonds Payable \| Notes and bonds payables
Debt Instrument [Line Items]
Fair value amount	644,700,000			644,700,000
Secured debt	649,500,000			649,500,000
Short Term Mortgage Notes And Bonds Payable \| Notes and bonds payables
Debt Instrument [Line Items]
Borrowings under lines of credit	$ 100,000			$ 100,000

- Definition

Debt Instrument, Basis Spread on Variable Rate, Increase (Decrease)

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Debt instrument weighted average interest rate.

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- Definition

Number of Loan Agreements

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Amount after accumulated depreciation of real estate and intangible assets held for investment for entities with a substantial portion of business acquiring and holding investment real estate.

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Face (par) amount of debt instrument at time of issuance.

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Incremental percentage increase (decrease) in the stated rate on a debt instrument.

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Amount of unused borrowing capacity under the long-term financing arrangement that is available to the entity as of the balance sheet date.

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The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

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Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower.

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