Schroders Reit to issue shares to fund €150m pipeline


The Schroder European Real Estate Investment trust has announced it will raise money for a €150m pipeline of acquisitions through a share issue.

The company, which targets an annual yield of 5.5 per cent, invests in commercial real estate in continental Europe and so far has invested in properties in Paris, Hamburg, Frankfurt, Berlin and Stuttgart. It has fully deployed all equity raised, totalling €151.7m.

The proposed placing will be based on the NAV at 30 June, which would be between 120p and 123p based on the current euro exchange rate.