(Alliance News) - Yew Grove REIT PLC on Wednesday said it had raised EUR25.8 million through placing of 26.6 million new shares at EUR0.97 per share.
The company previously announced in November that it intends to raise EUR19.4 million to fund asset acquisitions.
The company had identified eight available properties with a total cost of EUR72 million and net investment yield of 5.0% to 6.0%. In total, the company identified an acquisition pipeline with a cost of EUR130 million and predicts it can build a EUR300 million to EUR500 million portfolio of high-yielding properties in the medium-term.
Shares in Irish commercial property company closed at EUR0.97, down 0.5%.
By Ife Taiwo; ifetaiwo@alliancenews.com
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