LXI REIT ACQUIRES FIVE TRAVELODGE HOTELS IN THE UK

The London Stock Exchange-listed real estate investment trust LXI REIT has completed the acquisition of five Travelodge hotels in Aberdeen, Brighton, Liverpool, Llanelli and Nuneaton for a combined £45.2 million (£117,000 per room). The 387-room portfolio has exchanged at a reported yield of 5.8% net of acquisition costs. All hotels are fully let to Travelodge Hotels, based on a 24-year weighted average term, with RPI-indexed rent.

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