LXi REIT expects to make further acquisition, the UK-listed long income real estate investment trust said today as it announced £55m (€60.6m) worth of acquisitions.

LXi REIT has acquired, by way of pre-let forward funding deals, a new Aldi-led scheme in Berwick-upon-Tweed, Northumberland and a new 75-bedroom Travelodge hotel in Sandwich, Kent.

The company has also agreed similar deals for a new 70-bedroom Premier Inn hotel in Saffron Walden, Essex and a new 82-bedroom Premier Inn hotel in Nottinghamshire

The company has also acquired a fully-let purpose-built 178,617sqft industrial warehouse in Newton Aycliffe, Durham.

These acquisitions are being funded by the company’s new revolving credit facility, the company said.

Simon Lee, partner of LXI REIT Advisors, said: “We are pleased to be acquiring, predominantly on a forward funding basis, these attractively-priced assets let on long leases to strong tenant covenants across robust sectors, which are expected to provide further diversified, secure and inflation-linked income and capital growth potential.

“The attractive entry yields provide a substantial spread to both the company’s latest portfolio valuation yield and the low cost of our new revolving credit facility which is funding these acquisitions.”

LXi REIT said it is in legals on a number of additional acquisitions and further announcements are expected to be made shortly.