September 16 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:6A6] said on Thursday that it has purchased 80 hectares of agricultural land at an average price of 10,200 levs ($5,750/5,215 euro) per ha in August.
During the same month, Advance Terrafund finalised the sale of 36.9 ha under deferred payment terms, the real estate investment trust said in a bourse filing, without disclosing details about the price of the sales.
At the end of August, Advance Terrafund owned 23,055 ha of farmland, including land sold on deferred payment terms but still owned by the REIT, and 13.3 ha of urban land.
By the end of August, the REIT had leased 16,857 ha of agricultural land, or 84.4% of its total land intended for that purpose, for the 2018/2019 agricultural year.
The company expects to book 3.3 million euro in rental revenue for the 2018/2019 agricultural year.
(1 euro = 1.95583 levs)