Schroder Real Estate has raised £107 mln (€148 mln) in an initial placing in London and Johannesburg for its new European real estate investment trust (REIT).
Schroder Real Estate has raised £107 mln (€148 mln) in an initial placing in London and Johannesburg for its new European real estate investment trust (REIT).
The REIT will have its primary listing on the London Stock Exchange (LSE) and a secondary listing on the Johannesburg Stock Exchange (JSE, pictured).
It is the first trust to be launched by Schroders in more than a decade and will offer investors liquid access to key continental European markets, focusing on investment into targeted growth cities.
Duncan Owen, global head of real estate, said: "With the already strong performance of (other listed vehicles) REIT, EREIT and ImmoPlus, this new launch has strengthened our position as the leading investment manager of listed real estate trusts. We are now the only manager to offer UK, Swiss and continental European real estate investment trusts.
'Through this process we have developed good new relationships with a large number of South African institutions and wealth managers; we very much look forward to working with them going forward.'
