- Real estate investment company LXi REIT reported an uptick in the value and returns of its portfolio value for quarter ended December.

As at 31 December 2020, the portfolio had been valued at £907.25 million, reflecting a 1.7% like-for-like increase on the 30 September 2020 valuation.

The updated portfolio valuation resulted in an estimated unaudited EPRA net tangible assets and IFRS NAV of 123.2 pence per share, as at 31 December 2020, up 2% over the quarter with a quarterly total return of 3.1%.

'The key drivers behind this increase are the continued outperformance of two of the sectors where the group has some of its largest exposures, industrial and foodstores, which are benefitting from attractive supply and demand fundamentals and a strong investment market, as well as the effect of the embedded income growth within the portfolio,' the company said.

The portfolio had an average EPRA net initial yield of 5.0%, which reflected a 'small amount of yield compression in industrials and foodstores, with the yield remaining stable in the group's other sectors,' it added.

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