The latest in a string of Real Estate Investment Trust (REITs) to target the supported housing sector has unveiled plans for a £150m float on the stock exchange.

Independent Living REIT plc yesterday announced its intention to raise £150m through the launch of an initial public offering (IPO) on the London Stock Exchange. It published a prospectus for investors yesterday afternoon.

The trust said the finance raised will be used to invest in a ‘diversified portfolio of fit for purpose supported housing assets’. It will purchase and lease properties to housing associations and adds there is an ‘extensive’ pipeline of potential acquisition opportunities worth around £500m.