International law firm CMS has advised LondonMetric Property Plc (LondonMetric), a FTSE 250 REIT, on a £175m placing of new ordinary shares to institutional investors and retail offer to UK retail investors.
LondonMetric intends to use the proceeds of this fundraising to invest in a programme of acquisitions and developments in the logistics and long income sectors. The funds will also enable LondonMetric to benefit from greater scale whilst maintaining a strong balance sheet and further improving the quality and granularity of its income.
Kristy Duane, CMS Corporate partner, comments: “We are delighted to have advised long-standing client LondonMetric on this successful capital raise. As demonstrated by the levels of investor demand, LondonMetric has clearly identified and delivered on sectors generating reliable income and demonstrating great resilience. We look forward to continuing to support LondonMetric and seeing them scale up and deliver on their strategic goals.
“This transaction demonstrates the strength of CMS’s ECM practice, combining our expertise across the real estate sector with our market-leading advice to REITs.”
The CMS team was led by Kristy Duane and included Gordon Anton, Sophie Curran, Harry Cross, Hannah Forsyth and Maria Doran (all Corporate); and David Rivera (US Counsel).
CMS has one of the UK’s leading ECM practices, advising on the full range of ECM transactions for trading and investment companies. The firm ranked No.2 for ECM deals (all markets) by volume last year and was named a Tier 1 firm in the Legal 500 for Small/Mid-Cap Flotations. CMS is ranked No.5 for number of listed clients in the ARL Rankings Guide and No.5 by volume of deals by ECMi for H1 2021. CMS is also the leading legal adviser to REITs. The firm advises over 40 UK REITs, including almost half of the UK’s premium listed REITs.
