Overview
LXi REIT : LXI is targeting attractive inflation-protected income and capital returns through a diversified portfolio of very long-let and index-linked UK property assets. Typically, it will invest in 20 to 30 years to expiry or first break index-linked leases with institutional grade tenants. LXi REIT will not undertake any direct development activity nor assume direct development risk.
You can access the company’s website here
LXI : LXi REIT
Research History
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17 Dec 2020 16 min read
QuotedData’s Real Estate Roundup – December 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data November’s biggest movers in price terms are shown in the chart below. The eagerly awaited news of a successful vaccine candidate came at the start of November, boosting the stock market. Property companies that had seen their share price battered over the past eight […]
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12 Nov 2020 12 min read
QuotedData’s Real Estate Roundup – November 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data October’s biggest movers in price terms are shown in the chart below. October finished with the threat of a second lockdown looming over the UK as COVID-19 cases continued to rise. However, this did not dampen demand for shares in some of the companies […]
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10 Sep 2020 12 min read
QuotedData’s Real Estate Roundup – September 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data August’s biggest movers in price terms are shown in the chart below. There were some interesting price rises during the month of August as investors’ search for returns took them to property companies that have seen their share prices severely depressed during the Covid-19 […]
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13 Aug 2020 12 min read
QuotedData’s Real Estate Monthly Roundup – August 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data July’s biggest movers in price terms are shown in the chart below. A number of REITs and property companies saw big share price gains over the month of July as covid-19 restrictions started to ease across the UK and greater economic stimulus was revealed. […]
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08 Jun 2020 11 min read
QuotedData’s Economic Roundup – June 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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07 Apr 2020 15 min read
QuotedData’s Real Estate Roundup – April 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data March’s biggest movers in price terms are shown in the chart below. Property stocks took a hammering in March as the covid19 pandemic took hold. The UK was put on lockdown to stop the spread of the coronavirus resulting in the enforced closure of […]
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30 Jan 2020 16 min read
QuotedData’s Real Estate Annual Review – 2019
Property’s alternative theory The year was dominated by political and economic uncertainty, with Brexit negotiations casting a shadow over the market and the general election adding a further layer of doubt for much of the year. For a market that is staunchly aligned with political and economic sentiment, listed property companies and REITs performed well, […]
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13 Nov 2019 11 min read
QuotedData’s Real Estate Roundup – November 2019
Real Estate Roundup Performance data October’s biggest movers in price terms are shown in the chart below. For the second month running, Capital & Regional topped the list for share price growth: up 30.5% in the month – admittedly off a low base. The shopping centre landlord’s shares continued to rise after it agreed a […]
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05 Jul 2019 4 min read
QuotedData’s investment companies roundup – July 2019
Investment Companies Roundup New research Over June, we published notes on CQS Natural Resources Growth and Income, Standard Life Private Equity and Shires Income. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – there was a greater appetite for risk in June as […]
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07 Jun 2019 7 min read
QuotedData’s economic roundup – June 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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13 Nov 2018 1 min read
QuotedData’s investment companies roundup – November 2018
QuotedData’s investment companies roundup – November 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2018. Kindly sponsored by Baillie Gifford. Winners and losers in October In what was generally a miserable month for equity markets, Brazil shone […]
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11 Jul 2018 1 min read
QuotedData’s investment companies roundup – July 2018
QuotedData’s investment companies roundup – July 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2018. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised and returned in June Newcomer to the market, Yew Grove […]
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11 Jun 2018 2 min read
QuotedData’s Economic round up – June 2018
QuotedData’s Economic round up – June 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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2 min read
QuotedData’s investment companies roundup – June 2018
QuotedData’s investment companies roundup – June 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2018. Kindly sponsored by Baillie Gifford. The premium of biotech company, Syncona, rose on positive news on two of its […]
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18 Jan 2018 2 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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11 Dec 2017 2 min read
QuotedData investment companies roundup – December 2017
QuotedData investment companies roundup – December 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2017. Kindly sponsored by Baillie Gifford. December Investment Companies Roundup Money raised and returned in November There were no […]
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10 Nov 2017 2 min read
QuotedData investment companies roundup – November 2017
QuotedData investment companies roundup – November 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2017. Kindly sponsored by Baillie Gifford. November Investment Companies Roundup Globalworth Real Estate’s discount was eliminated after it announced […]
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12 Oct 2017 1 min read
QuotedData investment companies roundup – October 2017
QuotedData investment companies roundup – October 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2017. Kindly sponsored by Baillie Gifford. October Investment Companies Roundup Amongst the top performers, Alternative Liquidity Fund sold its […]
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14 Sep 2017 2 min read
QuotedData investment companies roundup – September 2017
QuotedData investment companies roundup – September 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2017. Kindly sponsored by Baillie Gifford. September Investment Companies Roundup Winners and losers in August Ashmore Global’s […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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14 Jun 2017 2 min read
QuotedData investment companies roundup – June 2017
QuotedData investment companies roundup – June 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2017. Kindly sponsored by Baillie Gifford. June Investment Companies Roundup Japan was one of the best places to be […]
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16 May 2017 2 min read
QuotedData investment companies roundup – May 2017
QuotedData investment companies roundup: Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2017. Kindly sponsored by Baillie Gifford. Money in: The only new launch in April was EJF Investments, a £69m fund trying to take advantage of […]
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10 Apr 2017 1 min read
QuotedData investment companies roundup – April 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. April Investment Companies Roundup
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
News
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18 Feb 2021 1 min read
QuotedData’s morning briefing 18 February 2021
In QuotedData’s morning briefing 18 February 2021: SEGRO (SGRO) says its French subsidiary is making a tender offer for the 5.6% of Sofibus Patrimoine that it doesn’t already own. SEGRO’s offer is €313.71 per share. Grainger (GRI – the residential property company) has made Robert Hudson its chief financial officer. Rob is currently chief finance and operations […]
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16 Feb 2021 1 min read
LXI REIT looks to grow
LXI REIT looks to grow – LXI REIT hopes to raise £75m by way of an initial placing, open offer, offer for subscription and intermediaries offer for a target issue of up to 60,164,539 new ordinary shares at an issue price of 124.5p. The issue price represents a premium of 2.3% to the estimated NAV as at […]
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12 Feb 2021 2 min read
QD view – Cheers to the property dividend hikes
After witnessing the anguish of property companies slashing dividends left, right and centre, at the start of the pandemic last year, it is encouraging to see news of dividend hikes now filtering through. Not all companies have experienced tenant distress during the crisis, and it is good to see that investors are being rewarded with a […]
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11 Feb 2021 2 min read
QuotedData’s morning briefing 11 February 2021
In QuotedData’s morning briefing 11 February 2021: Schroder European Real Estate says that at its Metromar shopping centre in Seville (which it owns in a 50/50 joint venture) one of the fashion anchor tenants will exercise its lease termination right. This termination accounts for approximately 3,000 sqm (14%) of the total space. The rent due will continue […]
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26 Jan 2021 1 min read
LXI REIT reports rise in portfolio value
LXI REIT has reported a 1.7% rise in the value of its long-income property portfolio in the quarter to the end of December 2020. The group said its portfolio had been independently valued at £907.25m. It said the increase was mainly down to its large exposure to the industrial and foodstore sectors, which are benefitting […]
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18 Jan 2021 1 min read
LXI REIT collects 96% of rent and increases dividend
LXI REIT has increased its quarterly dividend guidance on the back of strong rent collection figures for the first quarter of 2021. It has received 96% of rent, which increases to 98% on receipt of rent deferrals agreed with tenants. As a result of the robust rent collection figures, it has increased its dividend target to […]
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26 Nov 2020 4 min read
LXi buys store portfolio
LXi buys store portfolio – LXi REIT reports the acquisition of 11 foodstores and two discount stores from five different vendors/developers for a total cost of £61m. The stores have been acquired at an average net initial yield of 5.7% (net of acquisition costs) and with a strong and diversified tenant base in the form of Aldi, […]
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23 Nov 2020 1 min read
Hotels and leisure assets weigh on LXI REIT
LXI REIT has reported a 2.9% fall in EPRA net tangible assets (NTA) in half-year results, as the value of its hotel and leisure portfolio took a hit during the pandemic. The company, which specialises in inflation-protected long income real estate, posted an EPRA NTA of 120.8p at 30 September 2020, compared to 124.3p at […]
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05 Nov 2020 2 min read
QuotedData’s morning briefing 5 November 2020
In QuotedData’s morning briefing 5 November 2020, as it looks as though Joe Biden is on his way to the White House: JPMorgan Emerging Markets reminds us that, if shareholders approve at today’s AGM, its shares will be split on a 10 for one basis from tomorrow morning. Shareholders should note that this should not change […]
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03 Nov 2020 2 min read
QuotedData’s morning briefing 3 November 2020
In QuotedData’s morning briefing 3 November 2020 Finally, Waterfall has made its offer to investors in Alternative Credit Investments (ex P2P/Pollen Street Secured Lending). The bid is at 870p per share in cash plus a 12p dividend. It values the fund at £639.2m. This is a 6.3% discount to NAV. The bid is recommended by ACI’s […]
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20 Oct 2020 2 min read
LXI REIT shuffles portfolio with series of transactions
LXi REIT has sold three assets for £17m and recycled the proceeds into the acquisition of two foodstores for £15m. The group has sold its sole office, a long-let property in Cambuslang, Glasgow occupied by the local council, for £8m, reflecting a yield of 4.2%. It has also disposed of a portfolio of 11 long-let social […]
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05 Oct 2020 1 min read
LXI REIT reports 6% increase in dividend
LXI REIT has announced a 6% increase in its quarterly dividend having collected 97% of rents so far for the current quarter. The company, which owns a portfolio of long-let, index-linked property, has increased the dividend guidance to 1.44 pence per share for the quarter ending December 2020. It said the dividend is expected to […]
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17 Sep 2020 1 min read
QuotedData’s morning briefing 17 September 2020
In QuotedData’s morning briefing 17 September 2020 LXI REIT says that “following robust rent collection for the quarter ending September 2020“, it is increasing its quarterly dividend guidance by 4% to 1.35p per share (from 1.30p per share). Supermarket Income REIT is looking for more money. The aim is to issue £150m worth of shares at […]
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24 Jul 2020 2 min read
LXi REIT sells social housing assets and forward funds Lidl foodstore
LXI REIT has announced that it has sold two portfolios of long-let social housing assets for £10.7m, and has exchanged contracts on the pre-let forward funding acquisition of a Lidl foodstore in Barnard Castle, County Durham for £7.5m. Disposal of social housing asset portfolios The sales, to two separate social infrastructure funds, reflect a 5.25% […]
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1 min read
QuotedData’s morning briefing 24 July 2020
In QuotedData’s morning briefing 24 July 2020: Stenprop has provided the market with a trading update for the second quarter of 2020 to the market. It says that it has now collected 93% of the rent due at the end of March, and 84% of the rent due at the end of June. We have also […]
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02 Jul 2020 2 min read
QuotedData’s morning briefing 2 July 2020
In QuotedData’s morning briefing 2 July 2020: Schroder Oriental Income Fund says that shareholders overwhelmingly approved a resolution to shift the fund’s tax domicile from Guernsey to the UK. 99.78% of those voting approved the measure. The company should soon become a UK investment trust. Under fire Gabelli Value Plus+ reported a 25% fall in NAV […]
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04 Jun 2020 2 min read
Travelodge updates from LXI and Secure Income
Travelodge updates from LXI and Secure Income Following on from our earlier stories, LXI REIT says it owns 12 hotels let or pre-let to Travelodge, representing 10% of the annual contracted rents, including contracted rents under agreements for lease. Two of these hotels are under construction and benefit from cash-backed developer licence fees and a further […]
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18 May 2020 1 min read
LXi REIT reports 8.5% jump in NAV
LXi REIT has reported an 8.5% jump in net asset value (NAV) in full year results. The company, which owns a portfolio of inflation-protected very long income assets, saw NAV per share rise to 124.3p at the end of March 2020, compared to 114.6p last year. The jump is mainly attributable to acquisitions over the year […]
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06 Apr 2020 2 min read
LXI REIT to pay final dividend
LXI REIT has confirmed payment of its final dividend despite taking a hit on income due to the covid-19 pandemic. The company, which owns a portfolio of inflation-protected long-let property, said it expects to approve the payment of the company’s final quarterly dividend for the year ended 31 March 2020, at the rate of 1.4375 pence […]
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20 Mar 2020 4 min read
Covid-19 update from property companies
Several property companies have updated the market on the impact of Covid-19 on their business. Here we have rounded up the latest. Yesterday we reported updates from NewRiver REIT, Schroder REIT and Civitas Social Housing. You can read them by clicking the links. QuotedData has also published a piece looking at the likely long-term impact […]
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18 Feb 2020 2 min read
LXI announces profitable exit and accretive acquisition
LXI REIT (LXI), the specialist inflation-protected very long income REIT, has announced the following profitable disposal and accretive acquisition. Disposals bring in £6.8m Following receipt of an unsolicited approach, the company says it has sold a bus storage facility in Yardley Wood, near Birmingham, let to National Express Group PLC on a long lease, to […]
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26 Nov 2019 2 min read
QuotedData’s other news 26 November 2019
In QuotedData’s other news 26 November 2019 – Schroder Real Estate (SREI) reported half-year results to 30 September 2019, with its real estate portfolio posting a total return of +2.5% over the period versus +1.0% by the MSCI/IPD Benchmark Index. There were £45 million of disposals during and post the period end. The company added that […]
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20 Nov 2019 1 min read
QuotedData’s other news 20 November 2019
In QuotedData’s other news 20 November 2019 Hansteen has bought seven multi-let industrial estates on the Newton Aycliffe industrial park in County Durham for £12m. The portfolio comprises 53 units totalling 341,620 sq ft, with individual units ranging in size from 820 sq ft to 32,648 sq ft. The contracted rental income is GBP1,094,000 a year (GBP3.55 […]
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09 Oct 2019 2 min read
LXi REIT acquires three index-linked properties for £23m
LXi REIT has made a trio of acquisitions for a total of £23m, as it puts its recently announced revolving credit facility (RCF) to work. All three properties are long-let and index-linked and reflect a weighted average net initial yield of 5.7%. The company is also close to agreeing deals for further acquisitions that would see […]
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02 Sep 2019 4 min read
LXI announces £55m of acquisitions
LXi REIT (LXI) has announced a number of acquisitions for a combined total investment of approximately £55 million. All are long-let and index linked, and the purchase price reflects a weighted average net initial acquisition yield of 5.70%. The company says that this compares favourably to its latest portfolio valuation yield of 5.13% as at […]
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22 Jul 2019 2 min read
QuotedData’s other news 22 July 2019
In QuotedData’s other news 22 July 2019: LXI REIT has agreed a new £100m revolving credit facility, provided by Lloyds Bank plc at 1.55% per annum over LIBOR. This complements the company’s existing 10-year, 12-year and 15-year term loan facilities with Scottish Widows. The new facility has an initial term of three years, which may be extended by […]
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19 Jul 2019 4 min read
LXi REIT completes six acquisitions and fully deploys proceeds from £200m capital raise
LXi REIT (LXI) has announced that it has completed six, long-let, index-linked acquisitions from separate developers and vendors. The combined total investment of approximately £55m reflects a weighted average net initial acquisition yield of 5.83% (net of acquisition costs). Following these purchases (and those it previously announced on 25 June 2019), the company says that […]
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25 Jun 2019 4 min read
LXi REIT completes £135m of acquisitions
LXi REIT has announced that, following the completion of its £200m equity fundraising that was announced on 13 June, it has completed a number of acquisitions for a combined total investment of approximately £135 million. The company says that this reflects a weighted average net initial acquisition yield of 5.7% (net of acquisition costs). The […]
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13 Jun 2019 1 min read
QuotedData’s other news 13 June 2019
In QuotedData’s other news 13 June 2019 – Augmentum Fintech made follow on investments totalling £8.5m in three of its portfolio companies – Tide, Monese and Duedil. BBGI has topped up its investment in the A1/A6 road project in the Netherlands. The project was part of the Schiphol-Amsterdam-Almere expansion and involved the reconstruction and widening of a […]
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20 May 2019 1 min read
QuotedData’s other news 20 May 2019
John Laing Environmental Assets Group (JLEN) has announced the appointment of Hans Joern Rieks as a non-executive director of the company, commencing 13 June 2019. LXi REIT (LXI), the specialist inflation-protected very long income REIT, has reported annual results for the year ended 31 March 2019. LXI’s leases are typically 20 to 30 years to expiry […]
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26 Apr 2019 2 min read
QuotedData’s other news 26 April 2019
Gresham House Energy Storage has announced that it believes it will be fully invested by the end of the year. It is seeking to issue up to 75m new shares via a placing. Cantor Fitzgerald are running this, the closing date is 3pm on 24 May, the price is 101p – a premium to NAV […]
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11 Apr 2019 1 min read
AEW UK Long Lease REIT considering future
AEW UK Long Lease REIT considering future – The board of AEW UK Long Lease REIT served notice on its manager and announced a strategic review yesterday. “In view of the sub-scale size of the group, its performance since IPO, and the recent news in respect of Meridian Metal Trading Limited, the board is reviewing […]
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25 Feb 2019 2 min read
Urban Logistics REIT tweaks investment policy to fund new Staffordshire and Leicestershire assets
Urban Logistics REIT has announced that it has exchanged contracts with Carbide Properties Limited, conditional on receipt of planning permission, for the forward funding of two high-quality urban logistics assets at Staffordshire’s Stone Business Park and Leicestershire’s Lime Kilns Business Park in Hinckley. The gross development value of the total acquisition is £15.4 million and […]
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2 min read
LXi REIT buys Bupa care home in Bristol for £13.8m
LXi REIT has announced that it has acquired a Bupa care home in Bristol for £13.8m. The Property, comprising a modern, high quality care facility providing nursing and residential care predominantly for privately funded patients, and reportedly benefits from high underlying occupancy levels. The purchase was conducted off-market and has been funded using the Company’s […]
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28 Jan 2019 4 min read
LXi announces clutch of deals including supported living sale
LXi announces clutch of deals including supported living sale – LXi REIT has exchanged contracts to provide forward funding for the pre-let development of a Travelodge hotel at Gosport in Hampshire for GBP6.6 million, reflecting a 5.7% net initial yield. The 70 bedroom hotel has been fully pre-let to Travelodge Hotels Limited, the principal trading company of […]
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07 Jan 2019 4 min read
LXI swaps Travelodges for industrial sites
LXI swaps Travelodges for industrial sites – LXi REIT has, following an unsolicited approach, sold two of its older Travelodge hotels, in Haverhill and Ipswich, to an institutional buyer for £12.6m. This translates as a low exit yield of 5.0%, which compares favourably to the acquisition yields of 5.92% and 6.12% paid in March and July 2017, […]
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13 Nov 2018 2 min read
LXi REIT has made six new property acquisitions
LXi REIT has made six new property acquisitions- LXi REIT has purchased six new properties with total consideration of £62.4 million (excluding costs). This has the companies £175 million equity raise on 12 October 2018 fully deployed. All six properties are 100% linked to the retail price index. The weighted average unexpired lease terms to […]
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24 Oct 2018 6 min read
LXi REIT deploys £109m
LXi REIT deploys £109m – LXi REIT recently raised £175m from investors and today it has announced five deals that will deploy £109m of this. The company says it is in solicitors’ hands on further acquisitions which will fully deploy the balance in the next few weeks. Further acquisition announcements will be made shortly. BCA logistics facility, […]
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03 Oct 2018 3 min read
Another registered provider being reviewed by regulator
Another registered provider being reviewed by regulator – on 18 September 2018 the Regulator of Social Housing published a ‘Grading under review notice’ on Trinity Housing Association Limited. The notice says that “Trinity Housing Association Limited does not currently have a regulatory judgement as it previously held less than 1,000 homes. We are investigating a […]
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07 Mar 2018 2 min read
LXi increases dividend target
LXi increases dividend target – The board of LXi REIT (LXI) has announce that the Company has increased its dividend target. The target is being introduced over two time periods. The first one is from the IPO (27 February 2017) to 31 March 2018, when the target total dividend has been increased by 33.3% to 4.0 pence per […]
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12 Feb 2018 2 min read
LXi fully invested again after social housing deal
LXi fully invested again after social housing deal – LXi REIT has exchanged contracts on the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Colchester, Essex (74%), Birmingham (17%) and Dover, Kent (9%). The purchase price for this portfolio is GBP6.2 million, reflecting a net initial yield of […]
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05 Feb 2018 2 min read
LXI buys Stobart biomass storage and processing plant
LXI buys Stobart biomass storage and processing plant – The board of LXi REIT says that the company has acquired the freehold interest in the Stobart biomass storage and processing plant in Rotherham, Yorkshire in a sale and leaseback transaction. The purchase price for the property is GBP3.4 million, reflecting a net initial yield of 6.2% (net of acquisition […]
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15 Jan 2018 2 min read
LXI REIT dips into student accommodation with Dundee purchase
LXI REIT dips into student accommodation with Dundee purchase – LXI REIT, which is building an eclectic and diversified property portfolio, has acquired a long-let student accommodation scheme in Dundee. The purchase price is GBP20.25 million, reflecting a net initial yield of 6.3% (net of acquisition costs). The property is fully let to Mears Group PLC, […]
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13 Nov 2017 3 min read
LXi REIT forward funds East Midlands Premier Inn Hotel
LXi REIT has announce that it has exchanged contracts on the pre-let forward funded acquisition of a new Premier Inn hotel in the East Midlands. The total funding commitment is £6.9 million, reflecting a net initial yield of 5.20% (net of acquisition costs to the Company), and the acquisition is being funded from equity resources […]
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06 Nov 2017 2 min read
LXi invests more in care homes and supported living properties
LXi invests more in care homes and supported living properties – LXi REIT has announced the acquisition of two separate portfolios of care homes and supported living properties for a total consideration of GBP30.3 million. Each of the portfolio acquisitions is being funded from equity resources following the second issue of shares on 12 October, with […]
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18 Oct 2017 2 min read
LXi funds Lidl in Chard
LXi funds Lidl in Chard – LXi REIT has exchanged contracts to provide forward funding for the development of a new food store in Chard, Somerset, pre-let to Lidl UK GmbH. The development represents an investment of GBP5.5 million, reflecting a net initial yield of 5.75% (net of acquisition costs). The property will comprise a […]
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08 Sep 2017 2 min read
LXi REIT buys another supported living portfolio
LXi REIT buys another supported living portfolio – LXi REIT has exchanged contracts on the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located across England. The purchase price is GBP12.9 million, reflecting a net initial yield of 6.0% (net of acquisition costs). Each property is immediately income producing and has been […]
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21 Aug 2017 2 min read
LXi buys Motorpoint car showroom
LXi buys Motorpoint car showroom – The Board of LXi REIT has announced that the company has acquired the Motorpoint car showroom in Burnley, Lancashire. The purchase price for the Property is GBP5.7 million, reflecting a net initial yield of 6.5% (net of acquisition costs), which is expected to rise to over 7.0% following next […]
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18 Aug 2017 1 min read
LXi buys long let supported living portfolio
LXi buys long let supported living portfolio – LXi REIT has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Essex and Somerset. The purchase price for this portfolio is GBP9.2 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the company). Each […]
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15 Aug 2017 2 min read
LXi REIT buys another Premier Inn
LXi REIT buys another Premier Inn – LXi REIT has exchanged contracts to forward purchase the new Premier Inn hotel currently under construction at Wilson Street, Middlesbrough. The purchase price is GBP6.2 million, reflecting a net initial yield of 5.1% (net of acquisition costs). They have paid the vendor a 10% deposit with the balance […]
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1 min read
Investment Trust Insider on LXi REIT
This week’s topic is LXI Reit (LXI), one of a small band of real estate investment trusts whose raison d’etre is they invest in assets let on long leases. The first to launch in 2014 and by far the largest with a market value of £823 million is Secure Income Reit (SIR). It owns properties that […]
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10 Aug 2017 2 min read
LXi REIT buys three Northern Irish Priory Care homes
LXi REIT buys three Northern Irish Priory Care homes – LXi REIT has acquired the freehold interest in two Priory Group care homes in Northern Ireland and exchanged contracts to acquire a third Priory Group care home for a total portfolio consideration of GBP14.9 million, reflecting a net initial yield of 6.5% (net of acquisition […]
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01 Aug 2017 2 min read
LXi REIT fully invested looks to gear up
LXi REIT fully invested looks to gear up – The Board of LXi REIT has announced that the company has now fully deployed the net proceeds of its GBP138 million IPO since listing on 27 February 2017. They are also in solicitors’ hands on additional acquisitions which will fully absorb the GBP55 million debt finance to […]
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13 Jul 2017 2 min read
LXi has invested 90% of issue proceeds
LXi has invested 90% of issue proceeds – The Board of LXi REIT has announced that the company has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Surrey, Somerset and Leicestershire. The purchase price is GBP5.0 million, reflecting a net initial yield of 6.0% (net of acquisition […]
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04 Jul 2017 2 min read
LXi REIT gets loan facility
LXi REIT gets loan facility – the Board of LXi REIT plc says the company has signed a 12-year, fixed rate, interest only loan facility of GBP55 million with Scottish Widows, acting in partnership with Lloyds Bank Commercial Real Estate. The Facility is repayable on 3 July 2029 and has a fixed all-in rate payable […]
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21 Jun 2017 2 min read
LXi REIT acquires Kent, West Sussex and Gloucestershire supported living portfolio for £3.2m
LXi REIT has announced that it has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Kent, West Sussex and Gloucestershire. The purchase price for the Portfolio is £3.2 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the Company). Lxi REIT […]
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16 Jun 2017 2 min read
LXi REIT acquires Yorkshire supported living portfolio for £3.8m
LXi REIT has announced that it has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Yorkshire. The purchase price for the Portfolio is £3.8 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the Company). The company says that the properties […]
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05 Jun 2017 2 min read
LXi REIT buys Leeds care home
LXi REIT buys Leeds care home for £8.4m. The Board of LXi REIT has announced that the company has exchanged contracts to acquire the Priory Care Home, Leeds for GBP8.4 million, reflecting a net initial yield of 6.3% (net of acquisition costs to the company). The Property is fully let to Priory Elderly Care Limited […]
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02 Jun 2017 3 min read
LXi REIT acquires SIG manufacturing facility at Welton, Carlisle, for £9.3m
LXi REIT has announced that it has acquired the SIG manufacturing facility at Welton, in a sale and leaseback transaction, for a purchase price for the Property is £9.3 million, reflecting a net initial yield of 7.0% (net of acquisition costs to the Company). The acquisition is being funded from equity resources, with senior debt […]
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16 May 2017 3 min read
LXi is funding a Travelodge development in Swindon
LXi REIT has exchanged contracts to provide forward funding for the development of a new Travelodge hotel, drive-through Starbucks coffee shop and drive-through Subway restaurant in Swindon, Wiltshire. The cost to LXi is GBP8.28 million, reflecting a net initial yield of 5.8% on the net cost. When complete (target June 2018) the new development will comprise: a 70 […]
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05 May 2017 3 min read
LXi funds new discount retail park in Bradford
The Board of LXi REIT has exchanged contracts to provide forward funding for the development of a new discount retail park in Bradford, Yorkshire, pre-let to Aldi and T. J. Morris Limited (trading as Home Bargains). The development represents an investment of GBP10 million, reflecting a blended net initial yield of 6.15% on the asset […]
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24 Apr 2017 2 min read
LXi REIT buys Cambridge Belfry Hotel
Lxi REIT has acquired the Cambridge Belfry Hotel at Cambourne, Cambridge. The purchase price for the Property is GBP18.53 million, reflecting a net initial yield of 6.1% on the asset acquisition (net of acquisition costs). The property is fully let to Marstons Hotels Limited and guaranteed by its parent, QHotels Holdings Limited. QHotels is a […]
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11 Apr 2017 2 min read
LXi building portfolio
The Board of LXi REIT has announced that: the Company has exchanged contracts to forward purchase the new Premier Inn hotel and Beefeater restaurant currently under construction at Spanish City Promenade, Whitley Bay, North Tyneside (the “Premier Inn Property”); and the Company has now completed on the acquisitions of the GE Oil & Gas facility […]
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22 Mar 2017 2 min read
LXI REIT acquires Haverhill Travelodge in Essex
LXI REIT has announced that it has exchanged contracts to acquire the Travelodge hotel at Haverhill in Essex, and has now completed on the pre-let forward funded purchase of the Travelodge, Starbucks and Greggs bakery development at Melksham, near Bath, the exchange of which was announced on 10 March 2017. LXI REIT says that both […]
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10 Mar 2017 2 min read
LXi REIT buys Sheffield car park
LXi REIT has exchanged contracts to acquire the Q-Park car park at Rockingham Street, Sheffield. The purchase price is GBP19.1 million (excluding purchaser’s costs), reflecting a blended net initial yield of 5.20% on the asset acquisition. The car park, which comprises 96% of the Property, is let to Q-Park Limited with a lease guarantee from […]
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27 Feb 2017 2 min read
LXi REIT lists on the London Stock Exchange raising £138m
LXi REIT has listed on the London Stock Exchange. Its IPO has raised £138.15m before costs. The company is targeting attractive inflation-protected income and capital returns through a diversified portfolio of very long-let and index-linked UK property assets. LXi REIT is targeting a minimum annual dividend of 5 pence per Ordinary Share, starting from the […]
