Warehouse REIT hopes to get a postponed equity fundraising back on track as market volatility shows signs of calming.
The company said in March that a cash call would let it finance a pipeline of investments worth about £352m. The deal was delayed as public markets slumped during the coronavirus pandemic.
The company is now talking to “existing and potential new investors” about a fundraising, chairman Neil Kirton said in a full-year results announcement.
“Prior to the onset of Covid-19, we had identified a significant pipeline of attractive acquisitions,” Kirton said. “We still see good opportunities to continue with our investment strategy, with much of this pipeline still in place, and a proportion of it now at potentially more attractive values, as well as several new opportunities emerging in recent months.”
The company’s last equity raising, in April 2019, secured £76.5m.
Warehouse REIT’s revenue for the year to 31 March stood at £30.1m, up from £22m a year before, while pretax profit dipped from £22.8m to £20.7m.
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