This year the fund has invested a little over 23.4 mln leva (11.964 mln euros) in land acquisition throughout the country. 82% of the funds have been invested in agricultural land and 18% in urban land.
The average acquisition price stands at 212 leva (adjusted for acquisition costs). The company invests mainly in arable land category 1 to 6, 99.5% of acquired parcels fall into these categories (1 being the most suitable for cultivation in a scale of 1 to 10).
At the end of July 2007, Advance Terrafund REIT owns 192,500 decares. The average acquisition price in August was 259 leva/decare.
The REIT has signed lease contracts for a total of 67,875 decares, or 54.73% of all land purchased before the end of 2006, according to data from 30 August 2007. The average price of rents and leases so far stands at 11.17 leva/decare. The company expects revenues from rent and leasing contracts it has signed so far to amount to 758,464 leva (387,796 euros).