Independent Living REIT plans £150m IPO

Targets dividend of 5p per share

The Independent Living REIT is set to launch an initial public offering seeking to raise £150m.

The trust aims is to address the "shortage of high-quality supported housing, delivering capital growth and inflation-linked income returns for its investors" while also providing a "fair deal for society". It aims to address this by investing in three main areas of specialised supported housing for those with mental health issues or physical disabilities, ‘extra care' primarily for older people and homeless accommodation. The trust intends to become a real estate investment trust once it has completed the acquisition of an initial portfolio of target assets. The trust will trade unde...