January 17 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:ATER] said on Monday that it expects to book rental revenue of 3.1 million euro ($3.5 million) for the 2021/2022 agricultural year which started on October 1.
By the end of December, 37% of the projected rental revenue was collected, the company said in a stock exchange filing.
The REIT purchased 1,191.3 hectares of agricultural land at an average price of 6,417 euro per hectare in 2021, it also said.
In December, Advance Terrafund REIT sold 301.2 ha of farm land.
At the end of 2021, the real estate investment trust owned 18,207 ha of farm land, including land sold on deferred payment terms but still owned by the company, and 6.08 ha of urban land.
($ = 0.8757 euro)