Finance

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

By 2018-11-13T08:43:00

Travelodge

Source: Flickr / Elliott Brown / Creative Commons

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?

Try Property Week For Free to finish this article.

Sign up now for the following benefits:

  • Unlimited access to Property Week
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue