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LXi REIT acquires 11 foodstores and two discount stores for £61 million
StockMarketWire.com
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Real estate investment company LXi REIT said it had acquired 11 foodstores and two discount stores from five different vendors and developers for £61 million.
The acquisitions had 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 company said.
The acquisitions were let or pre-let on long, index-linked or fixed uplift leases with low current rents, averaging £14 per sq ft, and low capital value pricing, averaging £230 per sq ft.
'The group's whole portfolio now has a long WAULT to first break of 22 years, with 96% index-linked or fixed uplift rent reviews...' it added.
At 8:13am: (LON:LXI) Lxi Reit PLC share price was 0p at 122.6p
Story provided by StockMarketWire.com
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