The landlord, which counts Amazon and a number of third-party logistics firms among its tenant base, has seen high demand for space during the pandemic, as many businesses reacted to a surge in online sales.
It now wants to expand and today said it plans to raise £108 million.
The share placing price of 155p represents a 5.2% discount to yesterday’s closing price. It is open to existing and new shareholders, and there are 4 million shares available, totalling £6.2 million, to retail investors using the PrimaryBid platform.
Urban Logistics said: “The company values its retail investor base.”
The AIM-listed firm said there is “a significant pipeline of attractive investment opportunities” that the funding could be used for.
It added: “The urban logistics segment of real estate continues to enjoy strong structural momentum as tenants invest into their logistics real estate footprint, the growth in e-commerce continues, vacancy rates on ready to occupy space remain low and, overall, demand for logistics space outstrips supply.”