Gravis Capital Management looks to IPO Co-Living REIT

Target issue of 300 million shares

Gravis Capital Management has announced plans to list a new investment trust, GCP Co-Living REIT, on the specialist fund segment of the London Stock Exchange.

The group have set a target issue of 300 million ordinary shares with an initial issue price of £1.00 per ordinary share. The trust will invest predominately in independent co-living assets in urban centres in the UK and Ireland. Co-Living assets are large-scale, purpose-built, professionally managed, shared living residential accommodation supplemented by extensive communal facilities, services and amenities. Nick Barker, director at Gravis and fund manager of GCP Co-Living REIT, said: "The Co-Living sub-sector of the residential market is attracting significant interest from real es...