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Bulgaria's Advance Terrafund REIT buys 128 ha of farm land in Oct

Author Mario Tanev
Bulgaria's Advance Terrafund REIT buys 128 ha of farm land in Oct oticki/Shutterstock.com

SOFIA (Bulgaria), November 15 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:6A6] said on Friday that it has purchased 128 hectares of agricultural land at an average price of 5,394 euro ($5,945) per ha in October.

During the same month, Advance Terrafund did not make any sales, the real estate investment trust said in a bourse filing.

At the end of October, Advance Terrafund owned 23,287 ha of farmland, including land sold on deferred payment terms but still owned by the REIT, and 13.3 ha of urban land.

The company expects to book 3.3 million euro in rental revenue for the 2018/2019 agricultural year, out of which 37.2% have already been collected.

($ = 0.9070 euro)

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