LXi plans to pay off the debt on Alton Towers, Thorpe Park and Warwick Castle after its “income strip” sales.
Last month the REIT, which merged with Secure Income in July, exchanged unconditionally on £257m of sales at a low exit yield of 2.96%.
The REIT said that, on completion on 19 October, it will repay in full the £232m of debt secured against the Alton Towers, Thorpe Park and Warwick Castle properties.
LXi sold the properties following its merger, which added £2.3bn of assets to its portfolio.
Knight Frank has valued the total portfolio at £3.65bn. The net initial yield of 4.9% is estimated to rise to 5.6% in five years by virtue of the portfolio’s index-linked rent reviews.
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