Supermarket Income REIT raises £200m

Oversubscribed issue

Supermarket Income REIT has raised £200m in a “significantly oversubscribed” issue, its board has announced.

The REIT, which invests in supermarket real estate, was initially targeting £100m, but the board decided to increase the size due to demand and the confidence of the investment pipeline. Despite the increase, investor demand  still "substantially exceeded the maximum size of the initial issue and as such, a material scaling back exercise was undertaken", the board said. AIC: Secondary fundraising eclipses 2019 levels Nick Hewson, chairman of the company, said £180m of target assets were already under exclusivity with a "robust pipeline" of £420m in potential acquisitions. "W...