May 15 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:6A6] said on Friday that it has purchased 40.3 hectares of agricultural land under deferred payment contracts at an average price of 5,537 euro ($5,980) per ha in April.
Advance Terrafund REIT sold 20.4 ha of farmland in April, at an average price of 7,669 euro per ha, it said in a bourse filing.
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At the end of April, the real estate investment trust owned 22,408 ha of farmland, including land sold on deferred payment terms but still owned by the REIT, and 12.2 ha of urban land.
The company expects to book 3.34 million euro in rental revenue for the 2019/2020 agricultural year, of which 44.6% were collected as at the end of April.
($ = 0.925885 euro)