UK-listed LXi REIT has invested £73m (€85m) to buy two assets and has fully deployed the proceeds of its recently closed £250m capital raise.
The long income UK real estate investment trust said it has bought a fully-let 73,000sqft food store in Halesowen, Birmingham and a training and conference facility extending to 127,000sqft, on an 18.5-acre site, in Stone, Staffordshire.
The store is let to grocer Asda on a long lease with 22 years unexpired to first break and the training site is let to Compass Group on a long lease with 17 years unexpired to first break.
LXi REIT said it has fully deployed the net proceeds of the recent capital raise and is in talks to buy further assets which will be funded through the company’s debt facilities.
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