Macfarlanes advises Supermarket Income REIT on latest fundraise with initial placing, offer for subscription and placing programme

18 September 2020

Macfarlanes has advised UK-based Supermarket Income REIT plc on its latest fundraising with an initial target raise of approximately £150m to be undertaken by means of placing and offer for subscription.

The company is also seeking to implement a placing programme with the potential to raise, together with the placing and offer for subscription, up to approximately £470m over the next 12 months.

Despite the Covid-19 pandemic, since late March Supermarket Income REIT has deployed £240m of capital in five separate transactions, increasing the geographic coverage of the portfolio and diversifying its tenant base. 

As context of the fundraise, the company has identified a number of attractive investment opportunities, including three assets with an aggregate value of approximately £135m in respect of which discussions with the owners are advanced, together with a further pipeline of assets with an aggregate value of approximately £270m.   

The Macfarlanes team for this matter was led by corporate and M&A partner Robert Boyle with assistance from senior counsel Mark Slade and solicitor Olivia MacLellan.

Robert Boyle comments: “We are delighted to have assisted Supermarket Income REIT once again on a significant transaction which continues to highlight investors’ appetite for supermarket real estate assets as they prove to deliver long-term, inflation-protected income.”

Get in touch