Tuesday 23 July 2019

Yew Grove eyes €70m pipeline of acquisitions

Yew Grove said it has identified an
Yew Grove said it has identified an "attractive industrial property portfolio" available to buy for €13m, representing a 7.6pc net investment yield. Stock photo
Ellie Donnelly

Ellie Donnelly

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.

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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."

Irish Independent

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