September 16 (SeeNews) - Bulgarian real estate investment fund Advance Terrafund [BUL:6A6] said it sold 4,761.4 hectares of farm land worth a combined 14.4 million euro ($19.9 million) in the first eight months of 2011.
The REIT sold the land at an average price of 3,027 euro/ha, putting the yield at 124%, the company said in a statement to the Sofia bourse on Thursday.
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At the end of August the REIT's portfolio consisted of 29,826 hectares (ha) of farm land and 13.9 ha of urban land.
($=0.725 euro)