Santa maria I site valuation
 

Santa maria I site valuation

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This is a translated copy showing the valuation of the Greenwood Management, Fazenda Santa Maria I site situated in Bahia, Brazil. ...

This is a translated copy showing the valuation of the Greenwood Management, Fazenda Santa Maria I site situated in Bahia, Brazil.

Greenwood Management have a number of dedicated forestry investment sites located in the state of Bahia, Brazil as well as New Brunswick, Canada.

The Santa Maria I site is one of the first and smallest sites obtained by Greenwood Management in Brazil and as such is also the first site the company developed completely. Since Greenwood Management entered Brazil in 2009 the company has grown to become one of the largest forest operators in the region owning approximately 5,000 hectares of plantation forestry land and is expected to expand this area upwards to 10,000 hectares over the next few years.

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Santa maria I site valuation Santa maria I site valuation Document Transcript

  • Technical opinion of market evaluation In accordance with what is stated in the Articles 2nd, item 1st, and the Article 6th, item 1st, from CONFECI’s statute, approved with the Resolution – CONFECI Nº 574/98 and also with what is stated in the Article 5th from Resolution – CONFECI Nº1066/2007 Requester: Greenwood Agropecuária Limitada, limited society, CNPJ/MF nº 10.905.327/0001- 66, State Inscription nº83254710-NO, with Headquarters at BR 242-Km 735 – Municipality of Angical/BA. Represented by Nuno Duarte de Páris Dias, Portuguese, married, Engineer, Administrator, with identity card for foreign RNE Nº V822712-M Delemig/SR/BA, registered with CPF – 858.893.115-06, resident at Rua Monteiro Lobato, Nº 143, Bairro Vila Regina, Barreiras – BA. Technical Opinion Objective: enumerate and characterize the observed existences at Fazenda Santa Maria I and proceed to the market value of rural property evaluation, regarding the Normative from ABT from Series 14653, from Resolution – CONFECI Nº10662007 according with the normative from “Parecer Técnico de Avaliação Mercadológica” (PATM). Realty Identification and Localization: rural property named Fazenda Santa Maria I, belonging to Greenwood Agropecuária Limitada, limited society, CNPJ/MF nº 10.905.327/0001-66, State Inscription nº83254710-NO, registered with the CCIR Nº 50.041.391.514-2 and with the ITR Nº 640.1605-6. This realty evaluated here is registered under the Licence Nº”326” in the General Registry Book “2-C” dated on 03 of December 2002 Nº R-10.326, in the Notes Registry of Angical BA in the Book nº 58, pages 147, on 30 of January 2008, properly registered at Registry of Real Estate and Mortgages from Baianópolis Bahia with Nº - R.326, on 24 of May 2010. The rural property is sited at “Assentamento do Poção” – Catolândia Municipality and present the following limits, Directions, distances and confrontations: Descriptive Memorandum: this survey begun in 05 of October 1987, having as the starting point the stake nº 00 and with a lashing point at M.N. Starting from there direction to E-01, delimiting with Miguel Pereira de Almeida with the direction 16.˚15’SW and a 3.500,00m distance, from there to E-02, delimiting with Miguel Pereira de Almeida, with the direction 53.˚45’SE through a distance of 150,00m, from there onwards to E-03, delimiting with Miguel Pereira de Almeida, in the direction 18.˚47’SW and for a distance of 149,35m. From there going to E-04, delimiting with Miguel Pereira de Almeida, with direction 13˚.48’SW for a distance of 80,17m, from there to E-05, delimiting with Miguel Pereira Almeida, with direction 02.˚25’SW for a distance of 1.000,12m, from there to E-06, delimiting with Jose de Aquino Rocha, with direction 35.˚17’SW for a distance of671,00m, from there to E-07, delimiting with Miguel Pereira de Almeida, with direction 01.˚28’NW for a distance of 1.660,00m, from there to E-08, delimiting with Miguel Pereira de Almeida, with direction 09.˚32’NE for a distance of 3.990,00m, ending from there, direction to E-00, delimiting with Miguel Pereira de Almeida, with direction 63.˚28’SW for a distance of 830,00m having with this a polygonal perimeter of 12.030,66m with an area of 300ha76a00ca. Being like this represented by its attorney, JOSE CARLOS PEREIRA DE ALMEIDA,
  • married Brazilian, farmer, domiciled and resident at city of Baianópolis-Ba, with the CPF nº 162.727.144-91, as previous Registry: Registered in Registry of Real Estate and Mortgages from Baianópolis Bahia in the General Registry Book “2” under the R-1-10.381 on 09 of June 1988 and transferred to this judicial district with the licence in this book under M-326 on 03 of December 2002. Property Characterization: Fazenda Santa Maria I is located in a region where are developing plantations of Eucalyptus and Acacia, livestock development and dairy cattle. It’s served by good quality vicinal roads, and its nearby Barreiras, Baianópolis and Catolândia cities (see attached localization map). This localization allows and easy flux of products to the major commercial point – Barreiras. The rural property hereby evaluated, present a Total Area of 166,90 hectares and a Total Perimeter of 8,969Km (see attached map). The farm is completed fenced with poles every 4 meters with 5 level lines of fence wire. Presents good interior roads, from entrance to HQ building, the road is in gravel. The realty presents a good basic infrastructure: biphasic electrical energy, water from a well with a flow rate of 8.000 lt/hour capacity, with two water deposits of 15.000 litres each one, being one for supplying an irrigation area of 10,46ha with plantations of African Mahogany and other noble woods, and the other water deposit is to supply the HQ and two irrigated vegetable garden, one of that with 1,00ha (see photos). The property present several improvements, among them, two houses in good condition of conservation: one at the property entrance, with total area of 42m2 , with two different work areas – one NE facing equipped as an office, two rooms and one complete WC, and the other facing SW as a horticulture products warehouse, presenting a grating in the main elevational view and in its interior, a big wood storage structure of shelves until celling’s height; the other one is bigger, with a total area of 113m2 , situated more in the farm’s middle, with dormitory and canteen functions, with an industrial kitchen, 4 bedrooms (18 beds), 3 completes WC and 1 lunch/dinner area. Around it there are some Nim and Coconuts trees, 1 parking area for 6 cars and two socializing small squares. On its proximity can be observed the water deposit support made of 7 meters height concrete, one kitchen garden (600m2 ), one kennel (16m2 ), one little house used as warehouse for herbicide and pesticide (8M2 ), one hangar with a closed area with walls and a door, mechanical workshop, and another opened where is stored fertilizers, agricultural implements, etc. It also can be seen, a waiting nursery (625m2 ) with a gravel mattress of 0,25m height and 47 irrigation sprinklers for forest and horticultural seedlings (see photos). Evaluation and Used Methodology: to obtain this property value, that is evaluated here, it was used the “Data Market Direct Comparative Method”. In this method, the property market value identification is made by technical treatment comparison of the elements attributes in question within the sample, analysing the evaluated item similar elements, with the objective to find the prices trend formation.
  • In order to determine this property market value, we considered the offers and the deals done within similar properties and in the same region. To consolidate this evaluation, we divided its several observed improvements in 3 categories: Cultures, Constructions and Other Infrastructures. Improvments Unit Quantity Unit Value (R$) Total(R$) Cultures Irrigated Kitchen Garden ha 1,00 25.000,00 25.000,00 Irrigated African Mahogany ha 10,46 15.000,00 156.900,00 Eucalyptus ha 59,43 11.000,00 653.730,00 Acacia ha 37,80 11.000,00 415.800,00 Pasture ha 15,21 4.000,00 60.840,00 Native Forest (Legal Reserve) ha 35,10 1.500,00 52.650,00 Sub-total (1) 1.364.920,00 Looking the chart above, we can realize that, gathering the planted forest area with the Legal Reserve area, we achieve 142,79 hectares out of the total 166,90 hectares, i.e., the forest occupies 85,5% from the available area. Improvments Unit Quantity Unit Value (R$) Total(R$) Contructions Entrance House m2 42,00 850,00 35.700,00 HQ House m2 113,50 850,00 96.475,00 Irrigation System House m2 12,25 850,00 10.412,50 Poison House m2 8,00 850,00 6.800,00 Kennel m2 16,00 250,00 4.000,00 Closed Hangar m2 16,00 850,00 13.600,00 Open Hangar m2 92,00 250,00 23.000,00 Sub-total (2) 189.987,50 In this last chart, it’s summarized the different existing buildings in the property. All the buildings are recent and show good conservation. In total, all the buildings have an area of 299,75 m2 and a value of R$ 189.987,50.
  • Improvments Unit Quantity Unit Value (R$) Total(R$) Other Infrastructures Fences Km 9,37 1.200,00 11.241,60 Roads Km 12,29 950,00 11.673,60 Electrification Line Km 0,50 10.000,00 5.000,00 Waiting Nursery m2 625,00 25,00 15.625,00 Water Deposit Support (HQ) un. 1,00 10.000,00 10.000,00 Sub-total (3) 53.540,00
  • Improvments Unit Quantity Unit Value (R$) Total(R$) Cultures Irrigated Kitchen Garden ha 1,00 25.000,00 25.000,00 Irrigated African Mahogany ha 10,46 15.000,00 156.900,00 Eucalyptus ha 59,43 11.000,00 653.730,00 Acacia ha 37,80 11.000,00 415.800,00 Pasture ha 15,21 4.000,00 60.840,00 Native Forest (Legal Reserve) ha 35,10 1.500,00 52.650,00 Sub-total (1) 1.364.920,00 Contructions Entrance House m2 42,00 850,00 35.700,00 HQ House m2 113,50 850,00 96.475,00 Irrigation System House m2 12,25 850,00 10.412,50 Poison House m2 8,00 850,00 6.800,00 Kennel m2 16,00 250,00 4.000,00 Closed Hangar m2 16,00 850,00 13.600,00 Open Hangar m2 92,00 250,00 23.000,00 Sub-total (2) 189.987,50 Other Infrastructures Fences Km 9,37 1.200,00 11.241,60 Roads Km 12,29 950,00 11.673,60 Electrification Line Km 0,50 10.000,00 5.000,00 Waiting Nursery m2 625,00 25,00 15.625,00 Water Deposit Support (HQ) un. 1,00 10.000,00 10.000,00 Sub-total (3) 53.540,00 Total (1+2+3) 1.608.447,70