LXi REIT has acquired two separate portfolios of care homes and supported living properties for a total consideration of £30.3m. It said each of the portfolio acquisitions was being funded from equity resources following the company's second issue of shares on 12 Oct, with senior debt finance expected to be introduced in the near term.
The company said it had acquired the freehold interest in five modern, purpose-built care homes in Leicestershire and Lincolnshire for a total consideration of £28.5m, reflecting a net initial yield of 6.5%, net of acquisition costs.
And it has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Lancashire and Yorkshire.
It said the purchase price for the portfolio was £1.8m, reflecting a net initial yield of 6.0%, net of acquisition costs.