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Farmland

Since the launch of the Avenue Living Agricultural Land Trust (ALAL) in 2016, the case for investing in farmland has become even more clear. From inception, ALAL has grown to manage $200.7 million in assets in Saskatchewan, which is home to more than 40% of Canada’s cultivated farmland. ALAL’s tenant farmers produce a range of crops, including grains, pulses, and canola — basic staples that meet robust global demand. To replicate our success in the agricultural space, we launched a new fund in late 2022, Tract Farmland Partners LP (Tract), which has grown to $16.2 million in assets under management. Tract provides investors with another opportunity to benefit from Avenue Living’s experience investing in Saskatchewan farmland. 

$ 0 M
COMBINED FARMLAND
ASSETS UNDER MANAGEMENT
0
Farms

0 K
COMBINED ACRES
UNDER MANAGEMENT
0 %
Annualized return
SINCE INCEPTION

*(Class A – Avenue Living Agricultural Land Trust)

Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2023

Investment Strategy

Initiated in 2016 and 2022, respectively, ALAL and Tract provide investors with the opportunity to participate passively and indirectly in the consolidation of farmland in Saskatchewan. The two funds will seek to generate returns for investors via the capital appreciation and leasing of the portfolio of land holdings, as well as through value-add capital improvements and the strategic use of leverage.

investment strateg

2016

Inception of Avenue Living Agricultural Land Trust

2022

Inception of Tract Farmland Partners

“Despite the challenge of rising interest rates, Saskatchewan farmland prices have continued to rise, underlining the strong appeal of farmland investing. We have also seen a sustained interest from our tenants in expanding their farm businesses. This is driven by healthy commodity prices and economies of scale.

In 2023, we successfully grew our Tract portfolio, adding 3,379 acres of arable Saskatchewan farmland, and we continue to see more opportunities for expansion with a substantial pipeline of acres under contract. We’ve benefited from our strong track record in the space, identifying acquisitions through word-of-mouth referrals in the farming community, which speaks to our position as trusted partners. These referrals have resulted in the addition of acres to the portfolio in areas where we had an existing presence”.

– Leif Snethun

CEO, Avenue Living Agricultural Land Trust & Tract Farmland Partners LP

Returns

C$180,000

C$160,000

C$140,000

C$120,000

C$100,000

2017

2018

2019

2020

2021

2022

Calendar
Returns

2019

0 %

2020

0 %

2021

0 %

2022

0 %

Annualized
Returns

1 Year

0 %

3 year

0 %

5 year

0 %

Inception

0 %

Note: Fund returns are based on Class F Trust Units.  Figures presented as at September 30, 2023

Fund Returns

C$220,000

C$200,000

C$180,000

C$160,000

C$140,000

C$120,000

C$100,000

2016

2017

2018

2019

2020

2021

2022

2023

ALAL CALENDAR RETURNS


Class A

2020

16.12%

2021

18.04%

2022

19.69%

2023

12.61%

ALAL Annualized Returns


Class A

1 Year

12.61%

3 Year

16.74%

5 YEAR

16.24%

SINCE INCEPTION

12.28%

Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2023.

Fund Returns

C$220,000

C$200,000

C$180,000

C$160,000

C$140,000

C$120,000

C$100,000

2016

2017

2018

2019

2020

2021

2022

2023

ALAL CALENDAR RETURNS


Class A

2020

16.12%

2021

18.04%

2022

19.69%

2023

12.61%

ALAL Annualized Returns


Class A

1 Year

12.61%

3 Year

16.74%

5 YEAR

16.24%

SINCE INCEPTION

12.28%

Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2023.

Fund Returns

C$220,000

C$200,000

C$180,000

C$160,000

C$140,000

C$120,000

C$100,000

2016

2017

2018

2019

2020

2021

2022

2023

ALAL CALENDAR RETURNS


Class A

2020

16.12%

2021

18.04%

2022

19.69%

2023

12.61%

ALAL Annualized Returns


Class A

1 Year

12.61%

3 Year

16.74%

5 YEAR

16.24%

SINCE INCEPTION

12.28%

Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2023.

Tract Farmland Partners

* Subject to restrictions.

Case Study

AT ACQUISITION

Agricultural Farmland

Opportunity

This property presented the opportunity to increase farming efficiency and update field size to align with current agricultural practices. This improvement makes the property more attractive to current and prospective tenants, allowing them to operate the land and their machinery more efficiently, resulting in lower operating costs for the tenant while increasing their yield.

TODAY

annual report 2023 agricultural farmland

What We Did

We broke ground on a project that will remove over 140 kilometres of tree rows, allowing tenants to save time and fuel when farming the land. The rows are being returned to farmable acres through a combination of work, including chain saws, CATs, mulching, and roto-tilling. The project investment totals nearly $400,000 as of Dec 31, 2023, and is approximately 50% complete. The progress has positively improved the tenant’s overall economics and the total property value. The added value will be reflected at lease renewal time and is expected to result in higher rental revenue.

Key Acquisitions

Interactive Map

Hover over numbers to view
key acquisitions.

Our Funds

Core
Trust

Mini Mall Storage
Properties Trust

Farmland

Opportunity
Trust

Our Funds

Core
Trust

Mini Mall Storage
Properties Trust

Farmland

Opportunity
Trust