Metric Property, the new property company set up by three former British Land directors, has completed its fund raising and beaten its target, raising £175 from investors.
Metric will join the London Stock Exchange on March, with tax-efficient REIT status, and will begin investing its war chest in UK retail assets.
Chief executive Andrew Jones said: “The strong support we have received from institutional investors, which resulted in the issue being oversubscribed and exceeding our original target of £150m, underlines the compelling investment proposition we consider Metric offers to the market at the moment.
“We believe that the extensive re-pricing and re-financing issues in the retail property market will present opportunities for Metric to utilise its occupier-led approach, active asset management strategy and strong retailer, property investor and banking relationships to generate attractive returns fro shareholders.”
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