LXi REIT has bought a portfolio of regulated long-let supported living properties in Essex and Somerset.
The properties comprise specialist supported living homes for individuals with physical or mental disabilities and other care needs.
It bought the portfolio for £9.2m at a net initial yield of 6%, with each lease subject to an annual CPI-linked upward-only rent review.
Each property is income producing and has been let on a new 25-year lease, with no tenant break, to a specialist registered provider of social housing.
The acquisition is being funded from the company’s Scottish Widows debt facility.
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