Warehouse REIT plans £100m share issue

Warehouse REIT has announced it will raise £100m to bring forward an identified pipeline of opportunities and grow its portfolio. It has identified an increase in acquisition opportunities of £256m, with a target investment yield of 7%, of which £41.3m are in exclusive or final negotiations. The REIT will issue 97m shares, at 103p per share, targeting gross proceeds of £100m. The issue will comprise a placing, open offer and offer for subscription. The board has the right to increase the size of the issue by 25m shares, or £25.7m. The price represents a discount of 2.6% to the NAV