£250m equity fundraising and associated £370m acquisition of db Symmetry
About the client:
Tritax Big Box REIT is a leader in the UK and the first listed entity to give pure exposure to the Big Box asset class
About the transaction:
The fundraise (which was significantly over-subscribed) was conducted to fund the acquisition of db Symmetry, a Big Box developer with a total land portfolio of over 2,500 acres which is estimated to be able to deliver over 38m sq. ft. of new Big Box and logistics assets in the UK.
The portfolio is expected to contribute materially to the Company’s ability to continue to deliver strong earnings growth, the assets are targeting an average yield on cost of 7-8%, whereas at the time of acquisition the Company’s valuation yield was 4.4%.
£108m equity fundraising on the London Stock Exchange
About the client:
Triple Point Social Housing REIT plc, is a listed UK REIT, investing in UK social housing assets, focused on supported housing
About the transaction:
A follow-on equity capital raise to support the acquisitions of a new pipeline of assets – an oversubscribed transaction. The transaction also included the establishment of 12 month placing programme for up to a further c.£150m of further equity to be issued.
£156m equity fundraising on the London Stock Exchange, via Accelerated Book Build
About the client:
Tritax Big Box is a leader in UK Big Box real estate investment and is the first listed entity to give pure exposure to the Big Box asset class in the UK
About the transaction:
Significantly over-subscribed, this non-pre-emptive fundraise was undertaken to provide capital for a pipeline of near-term potential investments.
£48m equity fundraising on the London Stock Exchange, and migration to the Premium List
About the client:
Triple Point Social Housing REIT plc, is a listed UK REIT, investing in UK social housing assets, focused on supported housing.
About the transaction:
This fundraise was the second following the company’s IPO in 2017, it comprised a raise into a new C share issue. This transaction will allow the Company to maintain the considered deployment of investment into this lower risk, yielding asset class in the UK.
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