February 15 (SeeNews) - Bulgaria's Advance Terrafund REIT [BUL:6A6] said on Friday that it bough 61 hectares of agricultural land at an average price of 5,046 euro ($5,691) per ha in January.
Advance Terrafund did not make any sales in January, the real estate investment trust said in a bourse filing.
At the end of January, Advance Terrafund owned 22,883 ha of farmland and 13.3 ha of urban land.
By the end of January, the REIT had leased 19,963 ha of agricultural land, or 81.2% of its total portfolio, for the 2018/2019 agricultural year. The average rent price was 203.58 euro per ha.
The company expects to book 3.3 million euro in rental revenue for the 2018/2019 agricultural year.
As at 9:25 CET on Monday, Advance Terrafund shares traded 0.51% lower at 1.96 levs on the Bulgarian Stock Exchange.
($ = 0.8866 euro)