April 16 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:6A6] said on Tuesday that it bough 132 hectares of agricultural land at an average price of 5,215 euro ($5,897) per ha in March.
Advance Terrafund did not make any sales in March, the real estate investment trust said in a bourse filing.
At the end of March, Advance Terrafund owned 23,100 ha of farmland and 13.3 ha of urban land.
By the end of March, the REIT had leased 16,512 ha of agricultural land, or 82.7% of the total land intended for that purpose, for the 2018/2019 agricultural year. The average rent price was 200.13 euro per ha.
The company expects to book 3.3 million euro in rental revenue for the 2018/2019 agricultural year.
($ = 0.8844 euro)