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LXi REIT PLC - London-based commercial real estate-focused investment trust - Sells a retail park in St Albans, England to an unnamed UK institution for £31 million, equating to a net initial yield of 4.7%. The property is let to B&Q Ltd, Aldi Ltd and Costa Coffee Ltd, and has a weighted average unexpired lease term of 18 years. LXi bought the property through a forward funded purchase for £24 million in 2019. ‘The net sale proceeds are anticipated to be used to reduce leverage and, potentially, to be invested in the company’s higher yielding pipeline,’ it adds. Current stock price: 101.05 pence 12-month change: down 30% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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