Supermarket REIT to raise £50m

Supermarket REIT is planning to raise £50m by selling another tranche of shares. They will be priced at 102p each. The price represents a discount of 5.1% to the closing price of 107.5p on 11 September. The REIT has identified three acquisition targets, with one asset under exclusivity and two in advanced due diligence. Nick Hewson, chairman at Supermarket REIT, said: “We rapidly deployed the £45m we raised in our oversubscribed placing in March and the Investment Adviser has now identified three further near-term acquisition opportunities in respect of which new funds could be deployed. “These assets all meet with our strict investment criteria and, once purchased, will enhance our portfolio by increasing portfolio net initial yield and providing further geographic diversification.” To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette