London-listed LXi REIT has fully deployed the net proceeds of its £200m (€222.9m) fundraise, the company said today as it announced further acquisitions.
The specialist long income real estate investment trust said it has invested £55m in total to buy six assets from separate developers and vendors.
The deals include the forward funding of Lidl foodstores in Cornwall and Greater Manchester and the forward funding of Premier Inn hotel in the Scottish Highlands.
LXi REIT said it acquired a fully-let care home in the Midlands, bought a new fully-let waste management facility in Poole, Dorset and also agreed a sale and leaseback deal for a PGL outdoor activity centre in Lancaster, Lancashire.
The company said these acquisitions, together with those announced on 25 June, represent the full deployment of the net proceeds of the company’s £200m equity issue announced on 13 June.
Simon Lee, partner of LXI REIT Advisors, said: “We are pleased to have deployed fully, swiftly and prudently the net proceeds of the company’s recent £200m capital raise, announced on 13 June 2019, in attractively-priced, secure and index-linked assets that are diversified by strong tenant covenants across robust property sectors, which we anticipate will deliver further value for our shareholders.”
