Supermarket Income Reit has successfully raised the £100m (R2.2bn) it targeted in a share sale, giving the specialist property investor fresh capital to fund a £216m pipeline of supermarket acquisitions across the UK.The fundraising attracted support from existing and new shareholders, enabling the group to press ahead with plans to acquire nine grocery properties, including a Sainsbury’s supermarket in Manchester and Tesco stores in Edinburgh and Halifax, as well as six other grocery assets.The acquisitions will be funded through the proceeds of the capital raise together with debt.CEO Rob Abraham said the response from investors reflected confidence in grocery retail property, which continues to be viewed as one of the more resilient segments of the real estate market. “We are delighted to have received such strong levels of support from both new and existing shareholders for this raise, reflecting the attractive investment proposition grocery real estate continues to offer.”He said the acquisitions would support the company’s next phase of growth.“This capital will enable us to acquire a strong pipeline of assets to drive future earnings growth and support our ambitions to double the size of our portfolio.”The Reit said its acquisition strategy focuses on omnichannel assets that operate as physical supermarkets and online fulfilment centres, alongside properties with strong trading histories, long lease terms, contractual rental uplifts and strong tenant covenants.Several directors also participated in the fundraising, including Abraham and chair Roger Blundell, increasing their shareholdings alongside other board members.The group expects the new shares to begin trading on the London Stock Exchange and JSE on August 5, subject to shareholder approval.Following the capital raise, the group said it remains focused on expanding its portfolio as it seeks to strengthen its position as the UK’s leading listed grocery landlord.Business Day