Columbia Threadneedle-backed distressed REIT eyes 17 June listing date

Seeks minimum £250m initial issue

A real estate investment trust managed by former LXi REIT Advisors senior staff has received commitments from a trio of cornerstone investors ahead of its proposed IPO, including Columbia Threadneedle Investments.

Special Opportunities REIT (SOR) seeks to take advantage of "recent dislocation in UK real estate capital markets", targeting assets from distressed sellers at what the managers perceive to be "the bottom of the market". The trust is eyeing a potential listing date of 17 June and is seeking to raise £500m in an initial fundraise, of which between £104m and £119m has already been secured from the cornerstone investors. The trio comprises Columbia Threadneedle's TR Property investment trust, among "other CT investment funds", GoldenTree Asset Management, and the Bhavnani family office, ...