Ediston Properties plans to expand the business through the issue of 150 million new shares.
The decision to issue new shares comes after the company successfully deployed the £115m of capital raised since its flotation in October 2014.
The company intends to issue 40 million shares in an initial placing and offer and up to another 110 million shares in a 12-month placement programme.
The date of the issue and full prospectus will be released at a later date following approval by existing shareholders.
Ediston still has the right to issue a further 9.5 million shares which it obtained from shareholders in March but has not used to date.
Full pricing will be set at a premium to the recent net asset value per share of 102.56p.
