LXi makes £64.2m of acquisitions and agrees new £75m loan

Travelodge

LXi REIT has paid £64.2m on six acquisitions to complete the deployment of its recent £175m equity raise.

The group has bought five Travelodge hotels for £45.2m, reflecting a 5.8% net initial yield. The hotels are in Aberdeen, Brighton, Liverpool, Llanelli, and Nuneaton, and have an average of 24 years to the first break clause.

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