June 17 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:6A6] said on Monday that it purchased 74 hectares of agricultural land at an average price of 5,420 euro ($6,079) per ha in May.
Advance Terrafund sold 213 ha of farm land at an average price of 6,902 euro per ha, the real estate investment trust said in a bourse filing.
At the end of May, Advance Terrafund owned 23,030 ha of farmland and 13.3 ha of urban land.
By the end of May, the REIT had leased 16,875 ha of agricultural land, or 84.5% of its total land intended for that purpose, for the 2018/2019 agricultural year. The average rent price was 196.16 euro per ha.
The company expects to book 3.3 million euro in rental revenue for the 2018/2019 agricultural year.
($ = 0.8916 euro)