Advance Terrafund REIT (Ticker: 11B.F) operates as a closed-end real estate investment trust specializing in the acquisition, consolidation, leasing, renting, and sale of agricultural, urban, and forest land in Bulgaria. The company offers property rights securitization services; land banking and rental income generation through long-term leases to farmers; plot consolidation for capital appreciation; and selective land sales, managing a portfolio exceeding 18,000 hectares of primarily arable land leased to approximately 392 farmers nationwide. Headquartered at 1 Zlatovrah Street, Sofia, Bulgaria, and founded in 2005, Advance Terrafund REIT focuses exclusively on Bulgarian real estate markets, targeting institutional and retail investors seeking exposure to land assets with stable rental yields and growth potential. Launched and managed by Karoll Finance, the firm's asset management arm, it maintains operations through exclusive contracts with four nationwide brokers for land transactions. In recent developments, Advance Terrafund REIT reported earnings for the first quarter ended March 31, 2025, and full year ended December 31, 2024, while actively expanding its portfolio with the purchase of 690 decares of new land in October 2025—the largest acquisition that year—and 74.5 hectares of farmland in February of the same year, alongside routine sales of select plots to optimize holdings. These transactions underscore ongoing strategic land management amid stable financial health, with no debt reported and revenue primarily from Bulgarian operations totaling BGN 14.44 million in 2024.