LXi REIT’s share issue has raised twice as much capital as it had planned, generating £200m to fund its pipeline.
It has issued 169.1m shares at a price of 118p per share, reflecting a 3% premium to the net asset value of its properties.
Last month, the REIT proposed a £100m equity raising, seeking to issue 84.5m new shares.
It will use the proceeds to deliver its pipeline of acquisitions in the next three months, seeking to diversify its portfolio in terms of tenant, geography and sector exposure.
Stephen Hubbard, chairman of LXi REIT, said: “We look forward to deploying the capital rapidly but carefully in our significant identified pipeline of accretive, long-let and index-linked assets, which are expected to deliver further value for our shareholders.”
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