March 15 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:6A6] said on Friday that it bough 85 hectares of agricultural land at an average price of 5,522 euro ($6,249) per ha in February.
Advance Terrafund did not make any sales in February, the real estate investment trust said in a bourse filing.
At the end of February, Advance Terrafund owned 22,968 ha of farmland and 13.3 ha of urban land.
By the end of February, the REIT had leased 16,569 ha of agricultural land, or 83% of the total land intended for that purpose, for the 2018/2019 agricultural year. The average rent price was 199.48 euro per ha.
The company expects to book 3.3 million euro in rental revenue for the 2018/2019 agricultural year.
As at 12:00 CET on Friday, Advance Terrafund shares traded 0.52% higher at 1.94 levs on the Bulgarian Stock Exchange.
($ = 0.8836 euro)