September 15 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:ATER] said on Thursday that it purchased 123 hectares of agricultural land at an average price of 9,551 euro ($9,541) per hectare in August.
Advance Terrafund REIT did not carry out any land sales over the past month, the company said in a stock exchange filing
You can download the 2023 Agriculture industry in Southeast Europe report here
The REIT expects to book rental revenue of about 3.08 million euro for the 2021-2022 crop year, with an average yield of 213 euro per hectare.
At the end of August, Advance Terrafund REIT owned about 18,673 ha of farm land, as well as 6.08 ha of urban land.
The average monthly price per hectare of acquired agricultural land went up 10.2% in August, after falling by 6.15% between June and July, data provided by the real estate investment trust showed.
As at 1323 CEST on Tuesday, shares in Advance Terrafund REIT traded 0.34% lower at 2.96 levs ($1.51/1.52 euro) on the Sofia bourse.
($ = 0.9989 euro)