£85m equity fundraising on the London Stock Exchange
About the client:
Empiric Student Property plc is an internally managed real estate investment trust (“REIT”) investing in modern, direct-let, premium student accommodation, both standing and development assets, with a focus on quality and with assets in prime central locations in top university cities and towns in the UK.
About the transaction:
This fundraise represented the third undertaken by Akur, and comprised part of its share issuance programme, it was oversubscribed at the top end of the range, immediately following the fundraise Empiric began an accelerated programme of asset acquisitions in Leeds, Bristol, Exeter and Manchester.
£110m equity fundraising on the London Stock Exchange
About the client:
Tritax Big Box is a leader in UK Big Box real estate investment and is the first listed investment company to give pure exposure to the Big Box asset class in the UK – advised by Akur since 2012
About the transaction:
This fundraise was the first of the Share Issuance Programme, and immediately following the closing of the fundraise the Company acquired a series of substantial logistics assets across the UK including assets let to L’Oreal and Ocado
£65m equity fundraising on the London Stock Exchange
About the client:
Empiric Student Property plc is an internally managed real estate investment trust (“REIT”) investing in modern, direct-let, premium student accommodation, both standing and development assets, with a focus on quality and with assets in prime central locations in top university cities and towns in the UK.
About the transaction:
This fundraise represented the first of a 12 month Share Issuance Programme which comprised the authority to issue 300m shares in the company. A new tripartite prospectus was published as part of this programme. Immediately following this fundraise the Company acquired a series of assets in Exeter, Leeds and Glasgow.
Public takeover of Rugby Estates Limited (formerly Rugby Estates plc) by Lingfield Properties Ltd
About the client:
Lingfield Properties Ltd is a family owned, property investment company, which has invested in a number of property and property-related businesses in UK and Europe since 1989, capitalising on a varied range of opportunities.
About the transaction:
Lingfield acquired the entire issued share capital of Rugby Estates Ltd, a formerly AIM listed property investment company, through a recommended cash offer under the Takeover Code. The transaction facilitated a final exit for Rugby Estates shareholders while Lingfield acquired the existing cash balances and the remaining lease on a Mayfair property at an attractive valuation.
+44 207 493 3631
