LXI REIT plc
LXILF
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- LXI REIT plc (Ticker: LXILF) is a United Kingdom-based real estate investment trust that invests in a diversified portfolio of predominantly UK commercial properties let or pre-let on long-term (typically 20 to 30 years to expiry or first break), inflation-linked leases to institutional-grade tenants across robust property sectors including healthcare facilities, budget hotels, theme parks such as Thorpe Park and Alton Towers, food stores and discount retail, industrial and logistics warehouses, pubs, arenas, car parks, garden centres, life sciences, drive-thru coffee outlets, education properties and others; the portfolio comprised over 348 properties with a net book value of £3.6 billion as at 31 March 2023. The company targets inflation-protected income and capital growth for shareholders through these assets, advised by LXI REIT Advisors Limited. Founded in 2016 and headquartered in London, its operations focused on the UK market with strong tenant covenants like Aldi, Premier Inn, BT and M&S. In a major strategic development, LXI REIT plc merged with LondonMetric Property plc in March 2024 via an all-share transaction valued at £1.9 billion, under which LXI shareholders received LondonMetric shares and the scheme became effective, resulting in LXI delisting from the London Stock Exchange and full ownership by the combined group, now structured as a UK-focused triple-net lease REIT with enhanced scale, EPRA NTA of approximately £4.1 billion and increased logistics exposure. Post-merger, the enlarged LondonMetric entity has pursued accretive acquisitions including £124 million in deals (seven properties at 6.5% NIY rising to 7.2%), £78.5 million across five triple-net lease assets like Premier Inn hotels, logistics warehouses and convenience stores (WAULT 23 years, 5.5% NIY rising to 6.3%), a £74 million M&S logistics warehouse in Bristol (development completing 2026) and £73 million in further transactions such as a logistics portfolio, continuing the focus on long-let, inflation-linked income assets.