AEW REIT has launched a share issue to raise new capital to expand its portfolio of small commercial properties across the UK.
The firm, which already owns 35 mainly industrial assets across the UK with a value of £195.8m, said it had a “strong pipeline of potential investments” that totalled around £100m. The majority of those assets are in the industrial sector and focused on locations exhibiting low levels of competing supply and assets with low levels of passing rent.
AEW REIT wants to raise up to £20m via the placing at a proposed price of 97p per share. The price reflects a 1.85% premium to the last reported (unaudited) net asset value per ordinary share.
The proposed placing will take place through the company’s broker, Liberum Capital.
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