24th Feb 2020 11:26
(Alliance News) - Warehouse REIT PLC said Monday the value of its portfolio has risen further since the end of the first half of its financial year, as it continues to mull an equity raise.
The warehouse-focused real estate investment trust said as at January 31, its portfolio valuation rose by 5.9% to GBP464.8 million, compared to GBP438.7 million at the end of September.
On Monday last week, Warehouse REIT said it was mulling a capital raise to allow further acquisitions, with a pipeline worth over GBP350 million lined up.
"With limited capital resources available to complete acquisitions, the company is contemplating an equity fundraising to benefit from this pipeline of near term opportunities, which it will seek to deploy, together with debt finance where appropriate, in line with its investment strategy," the trust said.
Shares in Warehouse REIT were down 1.1% at 114.22 pence on Monday in London.
By Dayo Laniyan; [email protected]
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