LXi sells two care homes and buys Stobart industrial scheme

Eddie Stobart

LXi REIT has sold two care homes in Leicestershire to a UK pension fund for £19m.

The sale of the assets, which are let to Prime Life, represents an exit yield of 5.25%, which compares to the acquisition yield of 6.50% paid by the company in November 2017. The sale was at a 17% premium to latest book value as at 31 March.

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