LXi REIT has completed its latest equity raising after doubling the size of the issue to £250m.
With more than £350m of acquisitions in the pipeline, the company said demand for the placing still exceeded the scaled-up size.
Chairman Stephen Hubbard said: “We have seen exceptionally strong investor demand for our issue, and together with the strength of our nearer-term pipeline of over £350m of accretive investment opportunities and the investment adviser’s track record of rapid deployment, we chose to double the size of our capital raise to £250m.”
Simon Lee, co-manager of the REIT, acknowledged the “tougher market conditions” in which the deal was done. “We look forward to deploying the proceeds of the raise swiftly and prudently into our accretive near-term pipeline of long-let, inflation-linked assets diversified across a range of defensive and structurally supported sub-sectors and leased to strong tenant covenants,” he added.
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