Supermarket Income REIT has raised £300m (€355.7m) by way of a new share issue, exceeding an initial £175m target issue size.

The listed UK grocery property real estate investment trust said the decision to increase the size of the issue was due in part to the strong level of support and quality of demand from investors and the investment adviser’s confidence in acquiring assets.

Earlier this month, Supermarket Income REIT proposed to raise approximately £175m by issuing new shares at 121p each.

The proceeds from the issue will be used to make additional investments, the company said at the time, adding that its investment adviser, Atrato Capital had identified a number of attractive acquisition opportunities.

Nick Hewson, chairman of Supermarket Income REIT, said: “We are grateful for the continued support of our existing shareholders and are pleased to welcome new investors, some of whom were able to participate for the first time following the migration of the company onto the premium segment of the Official List earlier this year.

”The team’s focus is now on deploying the capital efficiently into our pipeline of opportunities. We have £150m of assets currently in exclusivity and a growing number of additional assets in our pipeline, representing opportunities in aggregate of over £700m.”

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