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Advance Terrafund REIT is ranked number one among REIT's in Dnevnik 100 toplist

04.06.2010 Advance Terrafund REIT

Advance Terrafund REIT was ranked number one in Dnevnik newspaper top list for REIT’s. The Dnevnik 100 rank is carried out for fourth time and includes the best 100 companies on the Bulgarian Stock Exchange for 2009. There is also a traditional rank for the best 15 REIT’s.
 
“It is not a surprise that the first place goes to a fund investing in agricultural land – Advance Terrafund”. In the past year agricultural land was the only asset whose value did not decrease and continued to bring in stable yield in the form of a rent. In other rankings the fund of Karoll Financial Group is on first place by the volume of assets and market cap. The fund is also in top 5 ranks of the REIT’s by incomes volume and liquidity.

This is the consecutive award for the management of the fund after the award of the Investors’ Association in Bulgaria for “Best corporate management of a REIT for 2008”.

The realized rental revenues as of the end of December, 2009 are for BGN 3.9 m and as of the end of December, 2008 they are BGN 2.5 m. This is a 58% increase in the income.

The fund has signed rental contracts for 2009/2010 for about 23 806 ha of agricultural land. In the Q1, 2010 financial statement the realized rental revenues are for  BGN 1.4 m. 

For 2008/2009 rental revenues were collected from 18 009 ha of agricultural land for total sum of BGN 0.92 m. This is 32% increase of rented land and 53% increase of the rental revenues.