Global law firm Norton Rose Fulbright has advised J.P. Morgan Cazenove and Peel Hunt in their capacity as joint bookrunners on an equity placing by LondonMetric Property PLC to raise gross proceeds of approximately £96 million. The proceeds of the fundraising will be used to fund acquisitions of new portfolio assets and development of existing portfolio properties.
LondonMetric is a FTSE 250 REIT specialising in property investment and development with a total of 12 million sq ft under management and a total portfolio valuation of approximately £1.5 billion, with a primary focus in retail-led distribution.
The Norton Rose Fulbright team was led by partner Mark Lloyd Williams with assistance from senior associate Christopher McCarthy and associate Laura Henry. Partner Tom Vita and of counsel Kevin Connolly provided US securities law advice, whilst partner Pierre Dagenais and associate Bruce Sheiner advised on Canadian securities aspects of the deal.
Mark Lloyd Williams commented: “We are seeing sustained corporate finance activity in the UK real estate sector notwithstanding wider market conditions and there is healthy appetite for expansion and investment by leading players.”
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