Triple Point Social Housing targets £70m equity raise

Triple Point Social Housing REIT has launched a placing programme to raise £70m for pipeline investment opportunities. It has identified £150m of properties to acquire over the next 12 months and is negotiating a number of off-market acquisitions. The REIT will raise the capital by a placing, open offer and offer for subscription of new shares at 106p per share. The open offer and offer for subscription will close on 19 October, with the placing to close on 20 October. Chairman Chris Phillips said: “During these challenging last six months, our portfolio of specialised supported housing homes have continued to provide critically needed accommodation to vulnerable adults, delivering better outcomes for our residents and savings for central government. “Through the investment manager’s deep market expertise, we have been able to identify a number of attractive assets which are firmly aligned with our investment strategy and would further strengthen the portfolio’s long-term income potential.” To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette