Target Healthcare REIT said on Friday that it has raised gross proceeds of £125 mln (€146 mln) through a significantly oversubscribed issue of new ordinary shares at 115 pence per new share.
The company decided to increase the size of the offering from £100 mln to £125 mln in view of the strong investor demand and the pipeline of attractive investment properties available.
'We are extremely grateful to both our existing and new shareholders for their support with this considerably oversubscribed equity raise,' commented Malcolm Naish, chairman of the company. 'Our conviction in both the quality of our existing portfolio, which is characterised by its inflation linked, long-income characteristics, as well as the compelling investment opportunity in the part of the care home market that we are focused on, is steadfast. We look forward to deploying the proceeds into high quality, fit for purpose homes with strong sustainability credentials.'
