Yew Grove eyes €70m pipeline of acquisitions
THE commercial property investor Yew Grove Reit plans to issue up to 100m new shares through a 12-month share issue programme.
Proceeds will be used to fund further acquisitions. Shares will be issued in tranches, including an initial placing of eight to 10m shares at €1 each.
Please log in or register with Independent.ie for free access to this article.
Yew Grove said it has identified an "attractive industrial property portfolio" available to buy for €13m, representing a 7.6pc net investment yield.
In all, a projected pipeline of €70m of acquisitions has been identified, said CEO Jonathan Laredo: "Since our IPO last year we have built a strong portfolio of diversified and differentiated Irish commercial property, offering attractive yields."