London-listed LXi REIT has invested £61m (€67m) to buy 11 foodstores and two discount stores.
LXi, which invests in UK commercial property assets let, or pre-let on long inflation-linked leases, said it acquired the assets from five different vendors.
The company said the acquisitions have been acquired at an attractive average net initial yield of 5.7% and with a strong and diversified tenant base in the form of Aldi, Lidl, Waitrose, Co-op, Iceland, B&M and The Range.
The assets include an Aldi foodstore forward funding in Northumberland, a Lidl foodstore in Hampshire and a portfolio of seven Co-Op foodstores in Blackpool, Glasgow, Pontypridd, Sandbach, Southport, Wallasey and Wrexham as well as a B&M and The Range discount stores in Yorkshire.
To read the digital edition of the latest IPE Real Assets magazine click here.