£108m success for Urban Logistics
We are very pleased to have acted as Joint Broker and Joint Bookrunner to Urban Logistics for a successful £108million fundraise. Urban Logistics, the specialist UK Logistics REIT, focuses on a specialist sub-sector of the UK real estate market, investing in urban logistics properties that enable businesses to operate modern distribution networks capable of responding to the challenges created by e-commerce and evolving infrastructure demands.
The placing was materially oversubscribed above the £108 million target. The placing involved both existing investors and new investors including a number of specialist real estate investors.
Nigel Rich CBE, Independent Non-Executive Chairman, said:
“On behalf of the Board, I would like to thank our existing and new shareholders for their support. The urban logistics sector continues to benefit from long term structural momentum created by the growth in e-commerce. This significant injection of capital will enable the Company to continue its growth and capture a pipeline of attractive assets.”
Panmure Gordon has been instrumental in raising, in aggregate, £337m for Urban Logistics over the past six months. This has facilitated significant growth in the Company’s logistics portfolio, taking the company’s market capitalisation to over £500 million.