Bulgaria's Advance Terrafund REIT buys 36 ha of land in Sept

Advance Terrafund REIT did not sign any contracts for land sales last month, the company said in a stock exchange filing.

It received final settlement of two contracts dating from 2017 for the sale of 78.4 ha of agricultural land.

The REIT expects to book rental revenue of about 3.1 million euro for the 2021-2022 crop year, with an average yield of roughly 213 euro per hectare.

At the end of September, Advance Terrafund REIT owned about 18,630 ha of farm land, as well as 6.08 ha of urban land.

The average monthly price per hectare of acquired agricultural land decreased by about 22% in September, after rising over 10% in August, data provided by the real estate investment trust showed.

As at 1547 CEST on Monday, shares in Advance Terrafund REIT traded 1.40% lower at 2.82 levs ($1.41/1.44 euro) on the Sofia bourse.

($ = 1.02172 euro)