November 15 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:6A6] said on Thursday that it bough 94 hectares of agricultural land at an average price of 5,164 euro ($5,846) per ha in October.
Advance Terrafund sold 36.1 ha of farmland in October under a deferred payment contract priced at 8,692 euro per ha, the real estate investment trust said in a bourse filing.
At the end of October, the REIT owned 22,556 ha of farmland and 13.3 ha of urban land, Advance Terrafund said in a bourse filing.
Advance Terrafund's strategy envisages owning a total of 22,500 ha of farm land at the end of 2018, of which 83% are expected to be leased for the 2018/2019 agricultural year.
By the end of October, the REIT had leased 16,221 ha of agricultural land, or 81.1% of its total portfolio, for the 2018/2019 agricultural year. The average rent price was 203.52 euro per ha.
($ = 0.8834 euro)