AEW Europe has raised £28.1m in its share issue – falling short of the £40m target it set in September.
It issued just under 28m shares at 100.5p per share, which AEW Europe previously said it would invest in a “strong pipeline of opportunities that fit our criteria”.
Initial plans were to raise £40m with an option to increase it to £60m depending on directors’ discretion.
The company invests in small, high-income commercial assets that have asset management potential.
As of 31 July, it had a £143.7m portfolio of 32 assets, although it has since sold Valley Park Retail in Belfast for £11.05m.
This is the latest share issue among high-income vehicles that has failed to reach its target, after LXI REIT fell short of its £205m target last week, raising £60.2m.
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