Triple Point Social Housing REIT has raised £47.5m through a new share issue, less than a quarter of its proposed target.
The social housing REIT announced the intention of raising up to £200m on 7 March.
Triple Point Investment Management will use the issue to “capitalise on investment opportunities identified by in the supported housing sector”.
Chris Phillips, chairman of Triple Point Social Housing REIT, said: “Given the current market backdrop, we are pleased with the result of this fundraise. We appreciate the support of our existing shareholders and welcome our new investors, and we look forward to reporting on the group’s continued strong progress over the coming months.”
Canaccord and Akur acted as joint financial advisers. Canaccord Genuity acted as bookrunner.
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