February 24 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:6A6] said on Monday that it has established a wholly-owned subsidiary - Atera 1, which will also invest in and operate real estate.
Atera 1's capital comprises solely of an in-kind contribution of properties located in the city of Stara Zagora, Advance Terrafund REIT said in a bourse filing.
As at 13:20 CET on Monday, Advance Terrafund REIT shares traded 2.16% lower at 1.81 levs on the Bulgarian Stock Exchange.
At the end of January, Advance Terrafund REIT owned 22,271 hectares of farmland and 13.3 hectares of urban land.
(1 euro = 1.95583 levs)