Agro Finance Reit Buys 200 Ha Of Land In January

Local real estate investment trust (REIT) Agro Finance, dealing in securitisation of arable land, acquired 207.2 ha of agricultural land in January, the company said in a filing with the Sofia Stock Exchange.

Currently, the fund’s assets stand at 15.397 million leva, at an average acquisition cost of 2259.4 leva hectare.

About 92 per cent of Agro Finance farmland is located in Northern Bulgaria.

In related news, Bulland Investments REIT officials announced that they had bought a 2 004 sq m stretch of arable land at the price of 144 000 euro in the village of Obelya. The fund also has three other company-owned plots, which brings their total area to 7 693 sq m.

The purpose of the land acquisitions is to consolidate the smaller plots into a larger property which will be rezoned for commercial development.

In another deal announced last week, Bulland bought 0.2 ha of land in Sofia residential district Bozhurishte for 120 000 euro.

The plot is adjacent to a Citroen showroom facility on the Sofia-Kalotina international road.

The REIT intends to rent out the property under a financial leasing arrangement.

In related news, Bulland Investments REIT officials announced that they had bought a 2 004 sq m stretch of arable land at the price of 144 000 euro in the village of Obelya. The fund also has three other company-owned plots, which brings their total area to 7 693 sq m.