AEW UK REIT is to raise up to £60m of new equity through a share placing.
The company intends to issue an initial £40m of shares in mid-October and can issue a further £20m if the directors believe it has an appropriate pipeline of properties.
The company said it “remains focused on searching for properties in locations that exhibit healthy levels of tenant demand and low levels of supply for competing stock” with a “particular focus on keeping investment values at a level where they are significantly supported by the underlying long-term value of a property”.
Its current pipeline “includes a diverse range of geographical locations and property sectors” and has “over recent weeks… seen an increased number of attractive opportunities in retail and other sectors and therefore expects that future acquisitions will represent a more balanced spread of property sectors, rather than being concentrated in the industrial sector as seen over past quarters”.
AEW UK REIT raised £80.5m in June having set an initial target of £150m.
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