UK's LondonMetric to buy LXI REIT in $2.4 bln deal

LXi REIT plc is a United Kingdom-based real estate investment trust (REIT). The Company's investment objective is to deliver inflation-protected income and capital growth over the medium-term for shareholders through investing in a diversified portfolio of predominantly United Kingdom property, that benefits from long-term index-linked leases with institutional-grade tenants. It invests in United Kingdom commercial property assets let, or pre-let, on long (typically 20 to 30 years to expiry or first break), inflation-linked leases to a range of strong tenant covenants across a diverse range of robust property sectors. Its portfolio comprises over 348 properties across 13 property sub-sectors with multiple underlying uses. It invests in various sectors, including healthcare, budget hotels, theme parks, food stores, industrial, pubs, arena, car parks, garden centers, life sciences, drive-thru coffee, education and others. Its investment advisor is LXI REIT Advisors Limited.