Tritax Big Box REIT has raised around £250m through a share issue.
The firm issued more than 190m shares at 130 pence per share.
The net proceeds will be used to fund the purchase of an 87% interest in db Symmetry and further investments.
Sir Richard Jewson, non-executive chairman of the company, said: “This fund raising enables the company to move forward with the acquisition of db Symmetry which represents a significant opportunity for the future further growth of the company, investing in assets on attractive terms and helping to ensure we maintain the high quality nature of our portfolio.
Colin Godfrey, Tritax partner, added: “The acquisition provides the company with access to a large portfolio of attractive and high quality development opportunities over the longer term that we, along with the board, believe can be delivered at a yield on cost significantly higher than is currently available in the investment market from acquisitions of built and let or prelet forward-funded assets.”
Last month, Tritax agreed to buy an 85% stake in Delancey and Barwood Development’s £370m logistics business, db Symmetry.
Tritax entered advanced talks to buy the privately-owned logistics platform in November, as previously revealed by EG.
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