London-based LXi REIT PLC has sold a retail park in St Albans, England, to an unnamed U.K. pension fund for £31 million (€36 million/$39 million).
The property is let to B&Q (62 percent of rent), Aldi (28 percent of rent) and Costa Coffee (10 percent of rent).
LXi REIT bought the property through a forward funded purchase for £24 million (€28 million/$30 million) in 2019.
The net sale proceeds are anticipated to be used to reduce leverage and, potentially, to be invested in the company’s higher yielding pipeline.
