Assets of REIT Funds in Bulgaria Valued at a Total of 1.29 Billion Leva

As at the end of 2007 the combined balanced value of assets of real estate investment trusts in Bulgaria stood at 1.29 bln leva (659.5 mln euros). Buildings and facilities have the greatest share of the funds' portfolios – 27.36%, or 351.11 mln leva (179.5 mln euros), according to data provided by the Financial Supervision Commission (FSC).

Agricultural land accounts for 21.03% of the funds' assets, or 269.8 mln leva (137.9 mln euros).

The third most popular type of asset is investment properties (land plots), which constitute some 16.92% of all assets as at December 2007. The percentage translates into 217.08 mln leva (110.9 mln euros).

According to the FSC, the funds have cash in the amount of 127.96 mln leva (65.4 mln euros), 9.97% of total assets.

Here is more detailed information on the 57 REITs in Bulgaria and their portfolios.

The six funds investing in agricultural land control assets of combined worth of 468.5 mln leva (239.5 mln euros). Land accounts for 269.8 mln leva (137.9 mln euros) of the total figure.

Elana Agricultural Land Opportunity REIT tops the list here with investment properties worth 141.13 mln leva (72.15 mln euros). Next are Advance Terrafund REIT with land worth 91.93 mln leva (47 mln euros) and BulLand Investments with 70.32 mln leva (35.9 mln euros).

The six funds mentioned have 26.82 mln leva (13.71 mln euros) of their assets in cash. Elana Fund has 10.6 mln leva (5.4 mln euros) and Mel Invest has 5.44 mln leva (2.78 mln euros). Advance Terrafund has just 514,000 leva in cash.

Among funds investing in assets other than arable land, number one is Fair Play Properties REIT with a balanced 84.99 mln leva (43.4 mln euros).

Second and third respectively are Singular REIT (79.81 mln leva, 40.8 mln euros) and Prime Property Bg REIT (73.17 mln leva, 37.4 mln euros).

Singular REIT has cash in the amount of 15.9 mln leva (8.12 mln euros), while Intercapital Property Development REIT controls 11.45 mln leva (5.85 mln euros), and Sofia Real Estate REIT has 10.63 mln leva (5.43 mln euros).

The last two control a total of 66.99 mln leva (34.2 mln euros) and 11.81 mln leva (6.03 mln euros) respectively.

More details are given in the table below:

Name PropertiesFinancial assetsAssets Total Fair Play Properties
74.88
1.455
84.99Singular63.62
15.90

79.81Prime Property
57.46
9.00
73.17Intercapital Property Development
49.35
11.46
66.99Health and Wellness58.14

2.6762.69
Universal Properties
42.017.58

54.79BenchMark Properties Fund
33.006.65
47.59
SerdicaProperties
34.84
0.31
41.54ERG Capital 337.75
2.35

40.12Active Properties
20.08
10.46
36.81Sopharma Properties
19.90
0.6626.61
Black Sea Investment
15.061.21

24.96Exclusive Property
22.10
0.46
22.82Luk
19.77
0.90
21.80ERG Capital 2
15.521.71

17.27Park
14.07
1.42
16.29Super Borovetz Property Fund8.62

0.0313.81
ERG Capital 110.63

1.3412.00
Sofia Real Estate REIT
0.00
10.63
11.81Quantum Developments
7.961.39
9.72
Invest Property7.96

1.56
9.52Colos 15.47
0.34

6.23Paldin Lion Group2.00
3.83

5.99City Development
0.00
1.16
2.89Liam
2.760.04
2.81
Alpha Property
1.88
0.10
2.45Solid Invest2.26

0.00
2.28Expat Properties
0.002.00
2.00
SII Properties
1.34
0.00
1.34Balkan and Sea Properties
1.20
0.021.22
HBG Investment Properties0.61

0.40
1.20Forukom Property Fund
0.70
0.07
0.96CCB Real Estate Fund0.00
0.44

0.94United properties
0.45
0.010.94
Premier Fund0.37

0.460.85
FINI Fund
0.57
0.000.82
Properties Capitals Funds
0.00
0.010.77
Bulgarian Investment Fund
0.63
0.010.71
Zenith Properties
0.390.30

0.69PRC
0.00
0.650.65
Status Properties
0.00
0.63
0.63Effekten und Finanz
0.000.63
0.63
Globex Estate Fund0.08
0.52

0.61DIT Property 0.00
0.55

0.55Property Fund
0.00
0.000.50
Sopharma Buildings
0.00
0.000.49
City Properties
0.000.48

0.48