LXi REIT acquires £12.9m supported living properties

LXi REIT has announced the £12.9m acquisition of a portfolio of long let supported living properties.

Each property has been let on a new 25-year lease to a specialist registered social housing provider.

The Company said it had now invested the proceeds from its £138m IPO and £55m 12-year loan facility following its listing on 27 February 2017.

Story continues below
Advertisement

Simon Lee, Partner of LXi REIT Advisors Limited, said: “We are very pleased with the Company’s strong progress since listing on 27 February 2017 and to have deployed our equity and debt in full in this period.

“LXi has invested into high quality assets with strong, secure covenants diversified by sector, tenant and geography …. Coupled with our substantial investment pipeline of secure, long let index-linked property assets, the Company is well positioned with an excellent platform to deliver attractive inflation-protected income and capital returns to our shareholders.”

LXi REIT has invested more than a third of its funds in supported living  and care homes with the remaining diversified across hotels, industrial, car parks, discount retail, restaurants and coffee shops, and automotive.

Its acquisitions include care homes run by The Priory Group in Northern Ireland and Leeds.

Authors

*

Related posts

Top