The supermarket owner said that the near-term investment pipeline was a factor in the decision as well.
The schedule puts the deadline for investor commitments at 1:00pm today and it is expected that the results of the funding round will be announced tomorrow.
Whilst the target size of the issue has been increased, it was noted in the statement that the issue is not underwritten and it may be scaled back for any reason – for example, to ensure the proceeds align with the company's post fundraise acquisitions and leverage targets.
Chairman Nick Hewson, when launching the equity raise last month, said: “We have made significant progress since our IPO in July 2017, growing our portfolio to more than £420mln and delivering total shareholder returns of 16.1%, “said chairman Nick Hewson.
"We rapidly deployed the £45mln we raised in our oversubscribed placing in March and the investment adviser has now identified three further near-term acquisition opportunities in respect of which new funds could be deployed.
“These assets all meet with our strict investment criteria and, once purchased, will enhance our portfolio by increasing portfolio net initial yield and providing further geographic diversification."