The proceeds will be used to mainly fund the acquisition of a portfolio of 17 retail properties located across France. IREIT announced that it agreed to acquire the properties for EUR76.8 ($112.2 million) on June 1.
IREIT Global has raised some $75.9 million in gross proceeds from its preferential offering. The offering, which was closed on July 11, was subscribed by 134.7% with valid acceptances and excess applications totalling 250.7 million preferential offering units received.
There were only 186.099 million units available under the offering.
