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Bulgarian REIT Advance Terrafund buys 63 ha of farmland in Apr

Bulgarian REIT Advance Terrafund buys 63 ha of farmland in Apr oticki/Shutterstock.com

SOFIA (Bulgaria), May 15 (SeeNews) - Bulgarian real estate investment trust (REIT) Advance Terrafund [BUL:6A6] said on Tuesday that it bough 63 ha of agricultural land at an average price of 9,800 levs ($5,972/5,010 euro) per ha in April.

At end-April, Advance Terrafund owned 22,080 ha of farmland and 13.3 ha of urban land, the REIT said in a bourse filing.

Advance Terrafund did not sell any farmland in April, the company noted.

Last year, Advance Terrafund bought 442.5 ha of farmland at an average price of 4,264 euro per ha. During the same period the company sold 992 ha of agricultural land at an average price of 6,155 euro per ha and signed deals for the deferred sale of 659.7 ha for 6,882 euro per ha.

(1 euro = 1.95583 levs)

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