LXi REIT sells two Travelodge hotels

Travelodge

LXi REIT has sold two of its older Travelodge hotels, in Haverhill and Ipswich, to an institutional buyer for £12.6m.

The deal reflects an exit yield of 5%, compared to the acquisition yields of 5.92% and 6.12% paid by the company in 2017. The deal represents a 19% uplift on acquisition cost and a 5% premium to the latest book value.

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