Taylor Wessing has represented Tritax Big Box REIT plc on its recent placing, open offer and offer for subscription, raising £350 million in total. This significantly exceeded the targeted size of £150 million and the maximum size of £250 million. Accordingly, the board decided to utilise part of its annual tap facility to issue a further £100 million of shares to satisfy the excess demand.

Conditional upon closing of the fundraising, Tritax acquired a portfolio of three Big Box assets for an aggregate sum of £172 million with further acquisitions in the pipeline.

Jefferies International Limited represented Tritax as Sponsor, Sole Global Co-ordinator, Bookrunner and also as joint financial adviser with Akur Limited.

The corporate team was led by client relationship partner William Belcher, with support from James Homan and Lucy Bowler. The real estate team was led by Alan Evans, Alistair Watson and Jane Hilton with Peter Jackson advising on tax.

Taylor Wessing advised Tritax on its IPO in December 2013 and all subsequent equity issuances, as well as its 34 property acquisitions and a group debt refinancing of £500 million in 2015.

Tritax Big Box REIT is a Real Estate Investment Trust investing in “Big Box” distribution centres. It is listed on the London Stock Exchange and a constituent of the FTSE 250 Index, with a net asset value of approximately £1.3 billion.