Urban Logistics, an AIM-listed REIT investing in last-mile logistics properties, plans to raise new equity to help it take advantage of a near-£400m pipeline of acquisitions.
The board is eyeing a pipeline of 33 acquisitions valued at a combined £389m, with a weighed average net initial yield of 6.43%. It said a potential equity raise could be invested within three months.
The company last raised fresh equity in March, when it secured £136m, after which it signed a £151m credit line.
Since then the company has completed nine acquisitions for a combined £145.7m, with a further £28.7m of deals due to complete in the near term.
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