Agricultural Land USA REIT - repost

I have an irrigation project with a set of center pivots in process, with which the Uruguayan Investment Promotion Act could be used. That 2006 act is actually in force in Uruguay whith taxes exempts for five years to irrigation projects taking place in the near future. The project considers two corn crops per year under irrigation and a cover crop after the second corn, which gives the system maximum stability and sustainability from the agricultural risks point of view. Alfalfa/Lucerne has been considered to the low lands wich are 11% of the total area. The projected cash flows for five years (using current prices and costs), indicate that the enterprise would get an average annual amount of U.S. $ 1,589,965.00, after taxes. The project costs, purchase of irrigation equipment basically, amounts to U.S. $ 1,000,000.00 approximately. Business plan required: My idea is to create a REIT in the USA with assets the land in Uruguay. The land will be leased to a professional farmer to carry forward the process of agricultural production . The received dividend (the rent paid by the farmer minus operating expenses) will be distributed annually to shareholders of the REIT, in order to complain with the IRS rules about REITs. Private REIT (non-public), amount of investment (U.S. $ 13,780,000.00 +1.000.000,00 = U.S. $ 14,780,000.00 approximately). I am open to investors in the no public phase. Investors required/private (non public) phase: For this first step I want to place 100 % of the shares of the REIT, to investors that you can provide, OR Long term bank loan required: If a financial institution provide a loan, maybe they fund 2/3 (66%) of the total amount like in a tipical mortgage. So, a 30 years with a fixed rate using the REIT assets (property of arable land in Uruguay, cash flows from financial proyections considering irrigated corn grain production and alfalfa hay) as colateral would be fine. I am open to hear different possibilites. This business model already exists [login to view URL] , NASDAQ: LAND, but for agricultural land in the USA. A Treaty of Reciprocal Protection of Investments between Uruguay and USA is actually in full force. I really think that the proposed business has scalable growth potencial. I want to clarify what I offer for the amount of U.S. $ 13,780,000.00:1. the land property,2. irrigation project,3. grant application for the use of water (uruguayan state rights) for irrigation,4. farm project,5. business idea, which allows:5.1. make the project eligible for tax breaks that foresees the 2006 Uruguayan Investment Promotion Act,5.2. the creation of a REIT in the U.S.A., for corresponding tax breaks,5.3. the possibility of investment for investors who could not access this class of assets as a matter of investment amounts,5.4. the possibility that the investment has more liquidity (USA REIT stocks vs. arable land in Uruguay), while it is a private REIT,5.5. the possibility that the investment has more liquidity further, once listed (public REIT),5.6. the possibility of making a profit in respect of the IPO and public listing of shares; as an example, Gladstoneland, 30% gain in the value of the shares with respect to the equity, have been obtained from its IPO (February 2013) as of yesterday, 5.7. finally, the low level of the value of the individual investment that could be considered, compared to the amount of the purchase of an uruguayan agricultural production unit, allows the entry to the portfolio of small investors an asset that increases diversification, reducing the risk and protecting the portfolio against inflation,6. the required management, performing the necessary operations for the delivery of the investment project for this first step in operating conditions. To the amount of U.S. $ 13,780,000, U.S. $ 1,000,000, 00 must be added, which is the cost of implementation of the irrigation project (cost of the necessary equipment).