Member Article

Cheshire REIT raises £38.6m through share placing

Hale-based real estate investment trust Ground Rents Income Fund (GRIF) has conditionally raised £38.6m through a share placing.

The trust, which is managed by Braemar Estates, originally hoped to raise £50m through the placing of Convertible Preference Shares in the company.

It expected to bring its total assets up to approximately £100m, but has come just short of this target.

GRIF said the proceeds of the placing will be pumped into future investments, as the fund continues to buy portfolios of ground rents.

This was posted in Bdaily's Members' News section by Miranda Dobson .