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LXI REIT secures £75M loan

LXI REIT PLC has secured a 15-year debt facility worth £75 million from Lloyds Banking Group PLC's Scottish Widows Group Ltd., with Lloyds Bank's real estate and housing team acting as the arranger, Property Week reported.

The package is the British real estate investment trust's third to be secured through the two Lloyds units in the last 18 months, following a £55 million, 12-year facility signed in July 2017 and a £40 million, 11.5-year loan in December 2017, both of which are fully drawn, the news outlet added.

The REIT plans to use the new funds to finance further asset acquisitions, PW reported.