May 15 (SeeNews) - Bulgaria's Advance Terrafund real estate fund [BUL:ATER] said on Monday that it purchased 39 hectares (ha) of agricultural land in April at an average price of 9,331 euro ($10,163) per hectare.
The company did not sell any agricultural land last month, it said in a stock exchange filing.
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The fund expects to book rental revenue of 4.1 million euro in the 2022-2023 crop year, which began on October 1, compared with 3.1 million euro in the previous crop year. By the end of April, Advance Terrafund had collected 29.8% of the rents for the current crop year and 87.3% for the prior one.
At the end of last month, the company owned some 17,211 ha of farmland and 6.08 ha of urban land. The average monthly price per hectare of acquired agricultural land edged up by 0.3% in April, after adding 13% in March.
As of 1020 CET on Monday, shares in Advance Terrafund REIT traded 0.57% lower at 3.47 levs on the Bulgarian Stock Exchange.
($ = 0.9181 euro)