Urban Logistics REIT has secured £89.2m in the first part of a fund raising to help it hit the acquisition trail.
The company’s placing, overseen by bookrunners N+1 Singer and Panmure Gordon, attracted new and existing investors. Chairman Nigel Rich said: “Urban logistics assets offer excellent opportunities for investors seeking exposure to this high-growth sub-sector of the real estate market.”
Urban Logistics mooted the equity raising in early September, telling shareholders it had lined up 33 potential acquisitions valued at a combined £389m. The firm last raised equity in a £136m deal in March.
Earlier this week the company confirmed that it would look to raise around £100m from a placing, after which it would launch a retail open offer to raise £600,000 and an institutional offer to raise £29m.
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