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Eversheds Sutherland (International) advises NewRiver REIT plc on oversubscribed £225m placing

  • Global

    07-07-2017

    Eversheds Sutherland (International) has advised UK listed NewRiver REIT plc (NewRiver) on its oversubscribed £225m placing to help fund the £60m acquisition of its Bravo joint venture portfolio, and provide a war chest for future buying opportunities.

    Believed to be one of the largest fundraisings in the property sector so far this year, it will take NewRiver’s market cap to over £1bn.

    The Eversheds Sutherland corporate team, which advised the leading property investor, asset manager and developer, was led by Partner Aleen Gulvanessian with assistance from Legal Director Mark Roe, and Associate Phillip Becker.

    Acting on behalf of NewRiver since its IPO in 2009, Eversheds Sutherland advised the FTSE 250 company on its admission and premium listing on the London Stock Exchange’s (LSE) Main Market in August last year.

    Aleen Gulvanessian, Partner, Eversheds Sutherland, commented:

    “We’re delighted to have supported NewRiver on yet another successful transaction, its first fundraising since moving to Main Market last year. Investment funds continue to be available for the right companies with proven track records of delivering on their promises, as NewRiver has consistently done.”

    Mark Davies, CFO, NewRiver, commented:

    “Eversheds Sutherland continues to provide us with a level of legal support and commercial advice that is second to none. Having acted on our behalf since our IPO in 2009 and helped us to move to the Main Market last year, they remain a trusted adviser and once again, we are delighted with this result.”

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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