UK long income real estate investment trust LXi REIT has acquired an 82-acre life science and biotech campus in York as part of £80m (€94m) worth of assets acquired in three deals.
LXi REIT has bought the 382,000sqft campus in York, let to outsourcing and professional services firm Capita and acquired STV’s media studios and headquarters facility in Pacific Quay, Glasgow.
The London-listed commercial property investor has also bought a waste recycling and storage facility in Aberdeen, let to waste management company Biffa. LXi REIT also said it has sold its Lidl foodstore in Chard, Somerset for £7.8m.
LXi REIT said the acquisitions were made at a total cost of £80m, adding that it is in talks to complete a range of pre-let forward fundings and sale and leasebacks.
Simon Lee, partner, LXI REIT Advisors, said: “These transactions demonstrate the company’s continuing ability to make accretive and secure long income investments across a wide range of structurally supported sub-sectors, including its first investment in the life science arena, as well as highly profitable disposals.”
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