El Totoral before, during and after improvements

February 9, 2022

We completed the turn-around of El Totoral, a 925 hectares farm located in the northwest of Uruguay.

Our main problem in this property was the incumbent tenant we inherited from the previous owner, who repeatedly failed to comply with the terms of our lease agreement. To make a long story short, he kept defaulting on his contractual obligations, from paying the full rent on time to maintaining the farm's soils and infrastructure.

Following a rigorous legal process, we evicted him from the farm and replaced him with a competent, creditworthy tenant.

With the cooperation of our new tenant, we carried out important improvements to address soil erosion, remove invasive bushes, repair the walls of a 1.75 million m3 dam, refurbish three 420 m Valley irrigation pivots, and repair peripheral fences.

We plan to continue leasing the farm to this independent row crop operator for the next two years to take advantage of currently high commodity prices and clean soils that have become infested with weeds following years of mismanagement.

In two years, we will start building a dedicated grass-fed cattle operation similar to those we built at Villa Lucero (9,004 hectares) and at El Tauro & Cabatir (888 hectares).

This video gives an overview of some of the improvements we made at El Totoral.

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