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10Mar2006
Advance Terrafund REIT already owns 4,300 ha
Advance Terrafund REIT owns 4,300 ha as of end of February 2006, the company reported. For the last month the company purchased additional 1,200 ha.
At the beginning of January 2006, the managing director, Mr. Radoslav Manolov, announced that Fund’s intentions are to have in its portfolio 4,000 ha by the end of February.
The acquired agricultural land (fields and perennial plants) is located in the Northeastern, the Northwestern and the Southern parts of Bulgaria.
The average lot size is 1.1 ha and the average price per ha is BGN 1,650. The decrease in the average lot size is a result of some large buy ups of small lots in certain villages with the purpose of subsequent land consolidation, the Fund’s management explained.
On March 15 starts the trading of the warrants for the capital increase by which the Fund will double its share capital to BGN 22.1 mln.
66,393 shares of Advance Terrafund REIT were traded today and the average price for the day remained unchanged at BGN 1.50 per share.
