AEW UK REIT is seeking to raise up to £20m (€24m) by issuing new shares at 97p each to fund the company’s investment pipeline.

The company said its pipeline – on which due diligence and negotiations are progressing – totals £100m, the majority being in the industrial sector.

The London listed firm said capital raised under the proposed share placing is expected to be deployed within three to six months.

AEW UK REIT owns a £195.80m diversified portfolio of 35 regional UK commercial property assets, which include office, retail, industrial and leisure assets, with a particular focus on industrial properties.

The new shares are expected to be admitted on 28 February.

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