UK industrial warehouse investor Warehouse REIT is planning to raise up to 拢45.9m (鈧�52m) by issuing new shares to help fund acquisitions.
Warehouse REIT, which is listed on London鈥檚 junior investment market AIM, plans to issue of up to 37.9m shares at 121p each to raise the capital.
The company said the amount raised, together with the group鈥檚 existing facilities, will be used to help finance the acquisition of two adjacent distribution warehouses in Harlow for 拢13.9m and two further assets for an aggregate consideration of 拢43.5m.
Warehouse REIT said it has a pipeline of further near-term acquisition opportunities which amounts to 拢263.3m.
Andrew Bird, managing director of Tilstone Partners, Warehouse REIT鈥檚 investment adviser, said: 鈥淲e are seeing unprecedented demand for modern, fit-for-purpose warehouse space in economically relevant locations, underpinned by e-commerce growth which has accelerated as businesses of all size look to adapt and future proof their operations.
鈥淗aving committed to an investment strategy founded on this evolution back in 2013, the company has been able to amass a portfolio of scale, delivering both rental and capital growth even against the backdrop of the current pandemic, allowing for the generation of significant returns for shareholders.鈥�
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