LXI REIT has deployed all of its £193m of equity and debt following the acquisition of a portfolio of supported living properties.
The company listed in February after raising £138m in equity and secured a £55m 12-year loan facility with Scottish Widows.
Its latest acquisition was a £12.9m portfolio of long-let supported living assets with net initial yield of 6%.
Its portfolio is split across eight sectors: hotels, supported living, care homes, industrial, car parks, discount retail, restaurants and coffee shops and automative.
LXI’s assets have an average net initial yield of 5.94% and a weighted average unexpired lease term to first break of 24 years. Some 96% of its income is index-linked and has fixed uplifts.
Its tenants include Aldi, Costa Coffee, General Electric, Premier Inn and Travelodge.
Simon Lee, partner of LXI REIT Advisors, said: “We are 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.
“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.”
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