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.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Register for free to finish this article.

Sign up now for the following benefits:

  • Four FREE articles of your choice per month
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article REGISTER NOW

Would you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.

Registered users and subscribers SIGN IN here to continue