London-based Supermarket Income REIT has announced a £75 million (€86 million/$94 million) share issue to acquire two assets with a value of around £115 million (€131 million/$143 million) in assets.
The REIT has plans to further acquire U.K. grocery assets with an approximate value of £180 million (€205 million/$224 million).
Fundraising will be raised by issuing new shares.
“The ability of omnichannel supermarkets to supply the local communities they serve has never been more important than it is now in response to [coronavirus]. As a board, we are fortunate during these difficult times to be able to raise capital to offer liquidity to vendors of supermarkets who may need the proceeds for other purposes,” said Nick Hewson, Supermarket REIT chairman.
“With the sector trading robustly in the current climate, our investment strategy remains focused on delivering stable, long-term, inflation-protected income through investing in the future mo
