LondonMetric has raised £130m from a private placement from US and UK institutional investors.
The company said that it will use the proceeds to pay some of the debt in its existing unsecured credit facility.
The placement was made in three tranches with a blended fixed rate coupon of 2.7% and a weighted average maturity of 8.3 years.
Martin McGann, finance director at LondonMetric, said: “The private placement provides further diversification of funding sources at attractive rates and allows us further capacity to increase our investments within the long let logistics market.”
Earlier this month, LondonMetric bought a refurbished distribution warehouse in Hemel Hempstead’s Maylands Business Park as part of its strategy to recycle equity in its portfolio.
LondonMetric sells Cheshire retail park
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