John Crabtree, non-executive chairman of Real Estate Investors plc, has become the third board member to back the business with hard cash.
The former head of major law firm Wragge & Co has bought 72,000 shares at 69.5p per share.
The announcement follows last week’s investment by REI chief executive Paul Bassi and finance director Marcus Daly who purchased almost £500,000 in the AIM-listed real estate investment trust.
Following his latest purchase, Mr Crabtree now holds 226,000 shares representing 0.12 per cent of the company’s issued share capital.
Birmingham-based REI has stated its intention to build a £200 million property portfolio in its Midlands heartland while maintaining a progressive dividend policy.
