Sirius to issue new shares to buy new properties in UK and Germany
The company’s portfolio comprises 139 properties in the UK and Germany, valued at over €2.1bn, and includes offices, storage and warehouses
Business park and storage warehouse owner Sirius Real Estate wants to raise about £145m (R3.3bn) to buy more buildings in the short-term by issuing new shares, after recently acquiring new properties in Liverpool, Barnsley and three in the north of London for about £45m.
“The directors believe that the conditions in those markets currently present a significant near-term pipeline of attractive acquisition opportunities, and the [proposed] capital raise will provide the flexibility to execute on that pipeline and replenish funds to use opportunistically following several acquisitions in recent months,” the company, valued at about R23.5bn on the JSE, said on Monday...
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