LXi REIT completes five U.K. property acquisitions for about £109m

LXi REIT has completed five property acquisitions in the United Kingdom, from separate vendors, for a total of about £109 million ($141 million).

The company said it intended to fully deploy the £175 million ($226 million) of capital raised in the next few weeks on further acquisitions.

LXi REIT said it had exchanged contracts to provide forward funding for a number of pre-let developments including a 70-bedroom Travelodge hotel at Edinburgh Par for £6.6 million ($8.5 million), and both a foodstore and B&M discount store to be built at Cowdenbeath, East Fife, for £8.5 million ($11 million).

The company also completed the acquisition of a 247-bedroom Jurys Inn hotel in Plymouth for £30 million ($39 million), a car storage facility in Corby, Northamptonshire, for £60 million ($78 million), and a discount store in Carlisle for £4.3 million ($5.6 million).

“We are pleased to be investing just over £109 million [$141 million] from our £175 milli