FINANCE: Tritax Big Box REIT has hit its target of raising £110m in an equity placing.
The REIT will issue 104m new shares priced at 105p each, and proceeds will be put towards the acquisition of more UK warehousing.
Tritax is under offer exclusively on three additional assets, which will be funded by proceeds raised in the the REIT’s £150m equity raise in July.
Separately, Tritax has exchanged contracts to buy a Tesco distribution warehouse in Touchet Hall Road, Middleton, Manchester for £22.5m.
Jefferies International and Akur are acting as joint financial advisers on the placing and Jefferies is acting as sole bookrunner.
