The average acquisition price of all properties to date stands at 2 120 levs/ha or 1 084 EUR/ha.
As of July 31, 2007 Advance TerraFund REIT owns a total of 19 000 ha of agricultural land. The average acquisition price last month stood at 2 490 levs/ha, or 1 273 EUR/ha.
In July the company acquired another 2 ha of land by Sofia ring road, close to Botevgradsko road, and was able to consolidate 2 lots of land – 1.3 ha and 4.44 ha respectively.
Currently, Advance TerraFund controls a total of 11.44 ha of urban land, and has invested a little over 9m levs (Euro 4.60m) as follows:
• Sofia – 3 properties on a total area of 6.74 ha,
• Stara Zagora – 1 property on an area of 1.065 ha,
• Vratza – 4 properties on a total area of 3.636 ha
As of July 31, the Fund has signed rental contracts for 6 672.8 ha of agricultural land, which represents 53.65% of the total land bought before the end of 2006.
The average rent price so far stands at 111 levs/ha or 56.75 Euro/ha. The fund expects revenues from rent contracts signed so far to amount to 737 000 levs (376,822 euros).