LXi REIT has raised £100m to pursue new acquisitions.
The REIT raised the total from an initial target of £75m and was still oversubscribed.
The raising, at 133p per share, will fund a £125m pipeline including two sale and leaseback portfolios focusing on the education sector, and long-lease supermarket schemes prelet to Lidl, Co-op and Sainsbury’s.
Chairman Stephen Hubbard said: “The properties in the pipeline have been sourced in the vast majority of cases off-market and are diversified across a range of defensive and structurally supported sub-sectors and let to high-quality tenant covenants. These are expected to be accretive and further strengthen and diversify our portfolio.”
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