Global Ag Properties II LLC, a unit of TIAA-CREF, has purchased 85 acres of vineyard land in Napa Valley’s Oak Knoll district for $25 million. The purchase comes just weeks after Global Ag sold about 120 acres in Carneros to Lede Family Wines for $10.8 million.
Sellers are the Jaeger family, which has farmed the Napa Valley since 196, when the family purchased 650 acres in the Oak Knoll district. The Oak Knoll property has produced Cabernet Sauvignon and Merlot.
TIAA declined to comment on whether Global Ag intends to continue the property as a vineyard or to develop it.