The company will use the funds to acquire new land plots in pursuance of its investment strategy and prospectus.
Advance Terrafund REIT () owns a total of 192,500 decares of land, according to July 31 data. The company has invested 82% of the funds in its portfolio in agricultural land, and 18% in urban land properties.
The average price of all land plots stands at 212 leva (adjusted for acquisition costs). The company invests primarily in highly fertile land. 99.5% of land plots fall into categories 1to 6 (land in Bulgaria is categorized on a scale from 1- 10 in terms of fertility).
According to August 30 data, Advance Terrafund REIT has signed contracts for the lease of 67,875 decares of land, which is 54.73% of all land purchases till December 2006.
The average lease price is 11.17 leva/decare. The company expects to generate 758,464 leva from the lease contracts it signed so far.
48,852 shares changed hands on the position today at 2.20 leva.