REG - LXI REIT PLC - Completed £250M sale to Travelodge of 66 hotels

LXi REITAnnouncement

29/02/2024 07:00

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RNS Number : 8680E  LXI REIT PLC  29 February 2024

 

 

29 February 2024

LXi REIT plc

(the "Company", the "Group" or "LXi")

COMPLETION OF THE SALE TO TRAVELODGE OF 66 HOTELS FOR £210 MILLION

 

LXi REIT plc, the specialist inflation-protected very long income REIT, is
pleased to report that, following its announcement of 8 January 2024, the
Company has now completed on the sale of 66 Travelodge branded hotels to the
Travelodge group for £210 million.

 

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

 LXI REIT Advisors Limited                     Via H/Advisors Maitland

 Simon Lee (CEO)

 Alex MacEachin (CFO)

 H/Advisors Maitland (Communications Advisor)  lxireit-maitland@h-advisors.global

 James Benjamin                                07747 113 930

 Rachel Cohen                                  020 7379 5151

 

The Company's LEI is: 2138008YZGXOKAXQVI45

 

NOTES

LXI REIT plc invests in commercial property assets predominantly in the UK,
let, or pre-let, on long (typically 20 to 30 years to expiry or first break),
inflation-linked leases to a wide range of strong tenant covenants across a
diverse range of robust property sectors.

 

The Company may invest in fixed-price forward funded developments, provided
they are pre-let to an acceptable tenant and full planning permission is in
place. The Company will not undertake any direct development activity nor
assume direct development risk.

 

The Company is targeting a dividend of 6.6 pence per ordinary share for the
year which commenced on 1 April 2023*.

 

The Company, a real estate investment trust ("REIT") incorporated in England
and Wales, is listed on the premium listing segment of the Official List of
the UK Financial Conduct Authority and was admitted to trading on the main
market for listed securities of the London Stock Exchange in February 2017.

 

The Company is a constituent of the FTSE 250, EPRA/NAREIT, MSCI and STOXX
Europe 600 indices.

 

Further information on the Company is available at www.lxireit.com
(http://www.lxireit.com)

*     This is a target and not profit forecast.

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