StockMarketWire.com - Property investor LXi REIT said it had acquired a portfolio of 23 nursery schools in England for a combined £34 million.

The purchase price reflected an accretive 5.5% net initial yield, versus a current portfolio value of 4.7%.

The nurseries had been acquired from and leased back to KidsFoundation, a provider of education and care services for children.

The deal deployed the balance of the equity proceeds of the company's £100 million placing in July.


Story provided by StockMarketWire.com