StockMarketWire.com - LXi REIT said it had acquired three assets lets on long leases for a combined total investment of approximately £23m.

The company exchanged contracts to acquire, by way of a pre-let forward funding, a new 85-bedroom Premier Inn hotel in Romford, Greater London; a new servicing and sales centre for Mercedes commercial vans and trucks in Smethwick, Birmingham and an Aldi foodstore in Lytham St Annes, Lancashire.

The assets reflected a weighted average net initial acquisition yield of 5.7%, net of acquisition costs, which compared 'favourably to the company's latest portfolio valuation yield of 5.1% as at 31 March 2019,' LXi said.


At 9:15am: [LON:LXI] LXI Reit Plc share price was +0.2p at 129.8p



Story provided by StockMarketWire.com