LXi REIT makes five acquisitions for £55m

LXi REIT has made five acquisitions for a combined total of circa £55m. The acquisitions have been funded by the company’s new revolving credit facility, announced in July, and reflect a net acquisition yield of 5.7%. The company will forward fund each development it has acquired. The acquisitions are: a supermarket in Northumberland that has been prelet to Aldi on a 20-year lease; a 75-bedroom hotel in Kent that has been prelet to Travelodge on a 25-year lease; a 70-bedroom hotel in Essex that has been prelet to Premier Inn on a 25-year lease; an 82-bedroom hotel in Nottinghamshire that has been prelet to Premier Inn on a 25-year lease; and a 178,617 sq ft industrial warehouse facility in Durham that has been fully let to Gestamp Tallent. Simon Lee, partner at LXI REIT Advisors, said: “The attractive entry yields provide a substantial spread to both the company’s latest portfolio valuation yield and the low cost of our new revolving credit facility which is funding these acquisitions.”   To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette