Pacific Industrial & Log REIT PLC Response to Press Commentary (9776H)
16 3월 2018 - 6:56PM
UK Regulatory
TIDMPILR
RNS Number : 9776H
Pacific Industrial & Log REIT PLC
16 March 2018
Pacific Industrial & Logistics REIT plc
("Pacific Industrial & Logistics " or the "Company")
Response to Press Commentary
Pacific Industrial & Logistics, (AIM: PILR), the specialist
UK industrial and logistics REIT, notes the recent press commentary
in Property Week.
Pacific Industrial & Logistics has a strategy to build a
significant real estate business with a focus on assets in the
industrial and logistics real estate subsectors with individual
values of less than GBP10 million. The Directors believe that an
attractive investment opportunity exists to develop a diversified
portfolio of properties which meet its target investment criteria,
which are located in key logistics locations and which have strong
cash flow characteristics.
The Company confirms it is in preliminary discussions with
existing and potential new investors to raise equity finance of up
to GBP50m to fund the acquisition of an identified pipeline of
urban logistics assets. There can be no certainty that either the
fundraising nor the acquisitions will complete.
The Board will provide a full update in due course.
The Company's trading update of 26 February is available to be
viewed on the Company's website (www.pacificil.com).
- Ends -
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information contact:
Pacific Industrial &
Logistics REIT plc
Richard Moffitt +44 (0)20 7591 1600
Canaccord Genuity - Nominated
Adviser and Broker
Simon Bridges
Charlie Foster
Andrew Buchanan +44 (0)20 7523 8000
Montfort - Financial
PR and IR adviser
Nick Miles
Olly Scott +44 (0)78 1234 5205
Notes to Editors
About Pacific Industrial & Logistics REIT
Pacific Industrial & Logistics REIT plc is a property
investment company, quoted on the AIM market of the London Stock
Exchange, (AIM: PILR).
The Company has been established to invest in UK based
industrial and logistics properties with the objective of
generating attractive dividends and capital returns for its
shareholders. Its investment strategy focuses on strategically
located smaller single let industrial and logistics properties
servicing high-quality tenants. Investment returns will be
generated by an experienced management team focusing on quality
stock selection and active asset management.
A number of structural and commercial factors currently support
the attractive opportunity in the last mile/regional industrial and
logistics real estate sub-sectors targeted by the Company,
including: strong occupier demand, (driven by the growth of
e-commerce and investment by retailers in their associated supply
chain) and a decline in the supply of lettable space in industrial
and logistics real estate across the UK (being more than one third
lower than the most recent peak of 2009).
Acquisitions are targeted in the 6.0-7.5% net initial yield
bracket, (with affordable underlying rents in the region of
GBP4.50-GBP5.50 per sq ft.), on an overall LTV of 35-40% and a
significant margin over financing costs, thus presenting attractive
income, capital growth and total return opportunities.
This information is provided by RNS
The company news service from the London Stock Exchange
END
SPCGGUCAWUPRUBQ
(END) Dow Jones Newswires
March 16, 2018 05:56 ET (09:56 GMT)
Pacific Ind (LSE:PILR)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Pacific Ind (LSE:PILR)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024