The company starts selling agricultural land on deferred payment
Advance Terrafund REIT turns 10. Since its creation, the company has established itself as the biggest company with special investment purpose in Bulgaria by market capitalization, as it is currently 210 million BGN. The company is focused only on the purchase, rental/lease and sale of land and offers indirect investment scheme for its shareholders in a well-diversified portfolio of agricultural lands in over 1000 villages in the country. The company's success is due to the well-established network of agents who buy, rent/lease and sell land.
To date, Advance Terrafund REIT owns 22,000 ha, which makes it the biggest public company – owner of agricultural land in the country. Within the active land banking, the company has purchased a total of 45,000 ha of agricultural land and 22,500 ha sold over the years. Since its establishment, the company has rental and lease contracts with more than 750 agricultural producers in 20 districts of the country. The annual growth in average rents of Advance Terrafund REIT varies from 12 to 21% and the rent collection is nearly 100%.
During its 10-year history Advance Terrafund REIT initiated, jointly with other investors, over 20 land consolidation projects in Bulgaria, as to date, the company has 2 completed projects.
"In these years, we have succeeded in establishing offices in 20 districts in the country and we became the preferred partner of farmers in renting land. From this year, we will be able to offer them to buy from us land on deferred payment, which is a new and unique opportunity for our market", said the Executive Director of Advance Terrafund REIT Mr. Radoslav Manolov.
Advance Terrafund REIT ranks in the top 10 most actively traded companies on the Bulgarian Stock Exchange, in the top 2 according to the amount of dividend paid for 2013, 2012 and 2011 and in top 10 for 2010 and 2009. The company is included in all indices on BSE – SOFIX, BG40, BGREIT, BGTR30. Advance Terrafund is the only company that provides transparency in the market prices of agricultural land through monthly newsletters and quarterly financial statements. The company also distributes more than 99% of its net profit each year.
Over the years, Advance Terrafund REIT has actively participated in the development of lease relations and the regulation of the "lessee – lessor" relationship, as well as in solving the problems affecting agriculture in Bulgaria. This has made the company a preferred partner to farmers.