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.

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

Registration includes the following benefits:

  • Access up to four FREE articles 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

Four articles not enough? SUBSCRIBE for unlimited access to over 100 weekly articles and our comprehensive archive. For as little as £5 per week.

Registered users and subscribers SIGN IN here to continue