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LXI REIT paying £19M for UK portfolio; Tradehold unit buys 2 London properties


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LXI REIT paying £19M for UK portfolio; Tradehold unit buys 2 London properties

This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.


* LXI REIT plc agreed to acquire the freehold interest in a portfolio of regulated long-let supported living properties in the U.K. for £18.9 million. The assets are spread across Greater London, Devon, Surrey, Essex and Northampton, and the deal marks a net initial yield of 6.0%.

In a separate release, the company said it agreed to a £5.5 million forward funding deal for a 23,500-square-foot food store in Chard, Somerset, which is prelet to Lidl UK GmbH. The transaction reflects a net initial yield of 5.75%.

* AEW UK Long Lease REIT PLC closed the £4.4 million purchase of the 19,900-square-foot 212 Wandsworth Road property in London, at a net initial yield of 5.1%. The property is fully let to Pure Gym Ltd. at a low passing rent of £11.60 per square foot.

* Palace Capital Plc renewed a lease on Princeton House in Farnborough, Hampshire, with the Secretary of State for Communities & Local Government. The new lease for the 8,300-square-foot office building is for a 10-year term starting April 2, 2018, with an option to break at the end of the fifth year.

* Empiric Student Property Plc signed an agreement to sell the freehold of the Forthside Way site in Stirling for £2.0 million, excluding costs. The sale is expected to close Nov. 27, according to a filing. The approximately 0.30-hectare site has detailed planning approval for a 208-bed student accommodation development.

* Tradehold Ltd.'s wholly owned unit Moorgarth Holdings Luxembourg Sarl finalized an agreement to purchase the 41 and 43 Chalton St. assets in London from N J A Ltd. and Peawalk Properties Ltd. for roughly £7.2 million and around £6.2 million, respectively. The two assets offer a combined internal space of 17,070 square feet.

Additional coverage

Report: Deka Immobilien buying Frankfurt office tower for €800M

Eurocommercial Properties in talks to buy Brussels shopping center for €468M

NEPI Rockcastle subsidiary to buy 2 Polish shopping centers for €249M

Heimstaden unit secures 1.4B-kronor loan for Stockholm portfolio acquisition

Urban&Civic sells hotel at London's Stansted Airport for £48.3M

Anusha Iyer contributed to this report.