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LXi REIT acquires industrial facility in Midlands, nine Costa drive-thrus for combined £36m
StockMarketWire.com
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Real estate investment trust LXi REIT said it had exchanged contracts on the forward funding acquisition of a portfolio of nine Costa drive-thrus and an industrial asset for a total cost of £36 million.
'The acquisitions benefit from a long average unexpired lease term to first break of 22 years, an accretive average net initial yield of 5.25% (net of acquisition costs), are let to strong tenant covenants on sustainable rents, and 100% of the income is index-linked to RPI inflation through contractual rental uplifts,' it added.
The industrial facility in the Midlands had been let to a leading operator on a new, unbroken 25 year lease.
At 8:26am: (LON:LXI) Lxi Reit PLC share price was 0p at 122.6p
Story provided by StockMarketWire.com
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