LondonMetric Property is planning to raise £100m (€114.7m) by way of a share placing to fund further distribution and acquisitions.
The FTSE 250 logistics real estate investment trust is placing 56m shares in the company to raise the capital.
The company said it intends to use £60m of the net proceeds to acquire a long income portfolio of five assets and £10m to buy a London focussed sale and leaseback portfolio.
Approximately £30m of the net proceeds will be for the purchase of an identified pipeline of opportunities, it said, adding that it expects to substantially deploy the net proceeds within three months.
Andrew Jones, CEO of LondonMetric, said: “The structural trends towards online and convenience that have underpinned our conviction calls into logistics and long income are set to accelerate, as many temporary shopping behaviours become more permanent with changes that were expected to take years now occurring within months.
“Against this backdrop, our portfolio remains well-positioned and has continued to perform strongly as borne out by our high rent collection and continued dividend payments.”
Jones said these uncertain times are starting to give rise to quality investment opportunities that are seldom available in a normalised market.
“Through our occupier relationships, we have identified some excellent assets, at attractive pricing, which would further strengthen our portfolio’s long term income characteristics.
“Not only do we expect to see further opportunities arise but also we expect the pitch to be much less crowded than before.”