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LXi REIT acquires long-let supported living portfolio
StockMarketWire.com
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LXi REIT has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Yorkshire.
It said the purchase price for the portfolio was £4.5 million, reflecting a net initial yield of 6.0%, net of acquisition costs to the company.
LXi REIT said each property was immediately income producing and had been let on a new 25-year lease, with no tenant break, to a specialist registered provider of social housing.
LXi REIT said the registered provider was regulated by the Homes and Communities Agency and received its funding for the rent payments directly from the relevant local authority.
Story provided by StockMarketWire.com
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