Bulgarian Real Estate Fund REIT Boosts Agricultural Portfolio to 35,500 Decare of Land

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Bulgarian Real Estate Fund REIT Boosts Agricultural Portfolio to 35,500 Decare of Land

Bulgarian Real Estate Fund REIT () has acquired 9 properties or a total of 38 decare of arable land in the region of Vratza. With the new acquisitions the company's agricultural land portfolio grows to 36,500 decare, BSE-Sofia reports.

The fund recently leased out 3 941.5 decare in the regions of Dobrich, Varna, Silistra and Razgrad for terms of between one and five agricultural years.

Lease payments typically take place at the end of each season. The average annual rent for the agricultural 2007 – 2008 year stands at 14 leva/decare.

The company has leased out a total of 18,400 decare, or 50% of its land.

6,590 shares changed hands on BSE today, the price varied between 1.95 and 1.99 leva.

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