Warehouse REIT has raised £76.5m (€89.1m) by way of a share placing, open offer and offer for subscription.
The listed specialist UK warehouse investor said it has received valid applications and commitments for the issue such that the company will issue 74.25m new shares at 103p each to raise the capital.
Neil Kirton, chairman of Warehouse REIT, said: “The support from both new and existing investors for this share issue expands the already high-quality share register, whilst being a strong endorsement of the management’s strategy to date and ambition to scale the business.”
Kirton said the funds raised will enable the company to invest in its identified pipeline of near-term opportunities in order to grow the portfolio, as it continues to source compelling UK multi-let warehouse opportunities.
“We are now ideally positioned to capitalise on the underlying drivers supporting the sector’s growth, applying our operating model to capture future upside via both rental and capital growth, delivering value for shareholders.”