Logistics investment trust, Tritax Eurobox, has raised €135 mln via a share issue, to plough into its existing portfolio and pipeline of new developments.
The placing to both new and existing shareholders was at €1.10 per share, a discount of 2.2%. The company went public with a London listing in mid-2018.
The manager, Tritax Management LLP, has a €660 mln pipeline of large warehouses and other assets, which are slated for completion within the next three years. The existing portfolio features investments totalling €558 mln in Germany, Spain, Italy, Belgium and Poland.
Nick Preston, Tritax EuroBox fund manager, said: ‘We are pleased with the support that this placing has received from existing shareholders and a range of new investors, despite challenging market conditions.
‘Since its IPO in July 2018, the company has completed the acquisition of eight prime Continental European logistics real estate assets and this fundraising will allow the company to further strengthen and diversify its portfolio.'
