SeeNews | 15 September 2014

Bulgarian REIT Advance Terrafund sells 2,336 ha of farmland in Jan-Aug

SOFIA (Bulgaria) – Bulgarian real estate investment trust (REIT) Advance Terrafund [BUL:6A6] said on Monday it sold 2,336 hectares (ha) of farmland at a price of 11,460 levs ($7,570/5,860 euro) per ha in the first eight months of 2014.

In August alone, the company sold 129.2 ha of farmland, Advance Terrafund said in a monthly bulletin.

The company’s portfolio consisted of 21,440 ha of farmland and 13.9 ha of urban land at the end of August.