Share Name Share Symbol Market Type Share ISIN Share Description
Lxi Reit LSE:LXI London Ordinary Share GB00BYQ46T41 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.75p +0.73% 103.75p 103.75p 105.00p 103.50p 103.50p 103.50p 143,400 16:35:21
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts - - - - 143.33

Lxi Reit Share Discussion Threads

Showing 51 to 73 of 75 messages
Chat Pages: 3  2  1
DateSubjectAuthorDiscuss
14/8/2017
18:58
Yieldsearch - post #50 might be relevant: Interesting - notice that the supported living acquisitions ... have uncapped rent reviews, but the care home ... was capped. I wonder if the point is that the former revenues are essentially guaranteed by the local authorities (hence by government), but the latter is a purely private sector undertaking, and the potential for unlimited rent increases could bankrupt the lessee which would not benfit the lessor. Just my musing! Am open to challenge on this, naturally.
jonwig
14/8/2017
18:54
Is there any visibility on the affordability of rent or rent cover?? Great to have long lease but if it is on over rented or not affordable terms the lessee may go bust well before the end of the lease...
yieldsearch
14/8/2017
14:54
Coverage of this and similar: Http://citywire.co.uk/investment-trust-insider/news/james-carthew-a-reit-long-and-winding-road/a1041467
jonwig
31/7/2017
08:11
£2.1 MILLION ACQUISITION OF A LONG-LET SUPPORTED LIVING PORTFOLIO The Board of LXi REIT plc (ticker: LXI) is pleased to announce that the Company has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Greater Manchester, Lancashire and Merseyside (the "Portfolio"). The purchase price for the Portfolio is £2.1 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the Company). Each property is immediately income producing and has been let on a new 25-year lease, with no tenant break, to a specialist Registered Provider of social housing. The Registered Provider is regulated by the Homes and Communities Agency and receives its funding for the rent payments directly from the relevant local authority. Each lease is subject to annual upward-only rent reviews index-linked to the Consumer Prices Index (uncapped) and the Registered Provider is responsible for the costs of repair, maintenance, insurance and outgoings. The properties in the Portfolio comprise specialist, high quality supported living homes for individuals with physical and/or mental disabilities or other care needs. The acquisition has been funded from equity resources, with senior debt finance to be introduced in the near term.
skinny
24/7/2017
10:05
Forward funded pre-let investment £6.1 MILLION FORWARD FUNDED PRE-LET INVESTMENT IN A NEW TRAVELODGE HOTEL, COSTA COFFEE SHOP AND KFC RESTAURANT DEVELOPMENT IN CAMBORNE, CORNWALL The Board of LXi REIT plc (ticker: LXI) is pleased to announce that it has exchanged contracts to provide forward funding for the development of a new Travelodge hotel, drive-through Costa coffee shop and drive-through KFC restaurant (the "Property") in Camborne, Cornwall. The development represents an investment of £6.1 million, reflecting a net initial yield of 6.15% on the asset acquisition (net of acquisition costs to the Company). Upon practical completion, which is targeted for May 2018, the new development will comprise of: · a 63 bedroom hotel pre-let to Travelodge Hotels Limited, the principal trading company of the Travelodge group, the UK's largest independent hotel chain with more than 520 hotels and over 38,000 guest bedrooms. This will account for 71% of the total rental income of the Property on a new 25 year lease (with no tenant break right), subject to five yearly upward only, CPI-linked rent reviews (collared and capped at 0% p.a. and 4% p.a. compound); · a 1,800 sq ft drive-through coffee shop pre-let to Costa Limited, a subsidiary of Whitbread PLC, a FTSE 100 company with a market capitalisation of £7.1 billion. Costa is a leading operator of coffee shops, with 2,861 outlets across 30 countries. This will account for 12% of the total rental income of the Property on a new 10 year lease (with no tenant break right), subject to five yearly upward only open market rent reviews (capped at 3% pa compound); and · a 2,950 sq ft drive-through restaurant pre-let to a leading KFC franchisee. This will account for 17% of the total income of the Property on a new 20 year lease (with a break right at year 10), with upward only open market rent reviews. The Property is well located directly fronting the A3047 Tolvaddon Road, 100 metres from the main A30 arterial highway. Camborne and nearby Poole and Redruth combine to form Cornwall's largest conurbation and Camborne plays an important role to the wider catchment of the peninsula in providing housing, retailing and leisure facilities. The three tenant pre-lets have exchanged, full planning permission is in place and the Company is acquiring the land and forward funding on a fixed-price basis. The developer will pay the Company a licence fee during the construction period. The Company is not developing the site or assuming development risk. The acquisition is being funded from equity resources, with senior debt finance to be introduced in the near term. John White, Partner of LXi REIT Advisors Limited, commented: "We are pleased to provide the forward funding for this attractive long-let hotel and leisure development asset with a compelling initial yield, pre-let to tenants with strong covenants, and which adds further geographic diversification to the current portfolio."
skinny
21/7/2017
07:43
£5.0 MILLION ACQUISITION OF TRAVELODGE HOTEL AND BURGER KING AND LITTLE CHEF RESTAURANTS AT NEEDHAM MARKET, SUFFOLK The Board of LXi REIT plc (ticker: LXI) is pleased to announce that the Company has exchanged contracts to acquire the Travelodge hotel and Burger King and Little Chef restaurants at Needham Market service station, Ipswich, Suffolk (the "Property"). The purchase price for the Property is £5.0 million, reflecting a net initial yield of 6.12% on the asset acquisition (net of acquisition costs). The hotel and both restaurants are fully let to Travelodge Hotels Limited, the principal trading company of the Travelodge group, the UK's largest independent hotel brand, with more than 520 hotels and over 38,000 guest bedrooms, across the UK, Ireland and Spain. The lease has an unexpired term of over 20 years (expiring in October 2037), without a break, and is subject to five yearly upward only rent reviews index-linked to the Retail Prices Index, with a high collar and cap of 3% p.a. and 7.5% p.a. compound. The next rent review is due in January 2020. The Property comprises a purpose-built 40 bedroom hotel, a standalone 4,045 sq ft restaurant unit and parking for 81 cars and forms part of a roadside service station which includes a separately owned Shell petrol filling station. The Property is strategically located at the busy junction of the A14 and A140, approximately seven miles north west of Ipswich in Suffolk. The acquisition is being funded from equity resources, with senior debt finance to be introduced in the near term. Completion is due to occur in the next few weeks. Simon Lee, Partner of LXi REIT Advisors Limited, commented: "This acquisition provides the Company with additional long-term, secure and RPI-linked income with an unusually attractive rent review collar of 3% pa and cap of 7.5% pa, offering significant rental growth in both high and low inflationary environments. The net initial yield of 6.12% is accretive to our portfolio running yield and will rise to at least 7.10% at the January 2020 rent review on the basis of just the minimum 3% pa rental uplift."
skinny
14/7/2017
16:11
With current acquisition and those in the pipeline they will have spent all the funds raised and the loan money. I reckon they will be raising more in September.
tyranosaurus
04/7/2017
07:10
A new £55m loan facility fixed for 12 years at 2.93%. A smart deal, I would say. Also the placing programme of up to 200m new shares will be rolled out in the coming months. With 138m shares in issue at present, this would need to apply pre-emption rights if it's to be any size worth bothering with.
jonwig
21/6/2017
08:32
If yields are 6% and cash ISAs get to 4% then the return is still 50% better!
toffeeman
21/6/2017
07:59
Interesting - notice that the supported living acquisitions (today and 16 June) have uncapped rent reviews, but the care home (5 June) was capped. I wonder if the point is that the former revenues are essentially guaranteed by the local authorities (hence by government), but the latter is a purely private sector undertaking, and the potential for unlimited rent increases could bankrupt the lessee which would not benfit the lessor. Just my musing!
jonwig
20/6/2017
19:51
Think of it as an almost totally secure investment. Yield starts at 6% and inflation is unlikely to rise much above 5% soon. If it did (think of the 1970s) equities wouldn't keep up.
jonwig
20/6/2017
17:41
I don't like the sound of (collared and capped at 2% p.a. and 5% p.a. compound). Anybody any thoughts with inflation taking off that Cap could be limiting on revenues
wingrove4
05/6/2017
11:27
Interesting that Acadia are selling off the freehold they acquired when they purchased Priory - presumably they are trying to reduce debt?
toffeeman
05/6/2017
07:32
When I saw the word Care Home I visualised some of the struggling basket cases that end up busing their clients out as the receivers move in. This however looks to be a much sounder investment. Happy days and back to sleep.
daveofdevon
05/6/2017
07:16
£8.4M ACQUISITION OF THE PRIORY CARE HOME, LEEDS The Board of LXi REIT plc (ticker: LXI) is pleased to announce that the Company has exchanged contracts to acquire the Priory Care Home, Leeds (the "Property") for £8.4 million, reflecting a net initial yield of 6.3% (net of acquisition costs to the Company). The Property is fully let to Priory Elderly Care Limited and guaranteed by its parent company, Priory Investments Holdings Limited ("the Priory Group"), a leading provider of mental health and elderly care services. The Priory Group is ultimately owned by NASDAQ-listed Acadia Healthcare which has a market capitalisation of $4 billion and operates a network of over 570 facilities with over 17,000 beds. The lease has an unexpired term of just under 23 years (expiring in March 2040), without a break, and is subject to annual upward only rent reviews index-linked to the Retail Price Index (collared and capped at 2% p.a. and 5% p.a. compound). The next rent review is due in March 2018. Purpose-built as a care home in 2010, the Property spans three storeys with 75 en-suite bedrooms. It is well-located, approximately two miles to the east of Leeds city centre, in a predominantly residential area within the suburb of Osmondthorpe. The acquisition is being funded from equity resources, with senior debt finance expected to be introduced in the near term. Completion is due to occur within the next week. John White, Partner of LXi REIT Advisors Limited, commented: "We are pleased to have acquired the Priory Care Home, Leeds, which provides the Company with an attractive net initial yield of 6.3% and a long, secure income stream with rare annual RPI rent reviews. This acquisition, our tenth since IPO, means that the Company now has 12 strong tenants with exposure to six distinct sub-sectors and has deployed 80% of its net equity."
skinny
02/6/2017
21:35
Thanks njb
alan@bj
02/6/2017
21:10
alan I IPO'd DSM via HL and the bonus shares were credited a week or two after first dealing day.
njb67
02/6/2017
17:30
I got the number I applied for through H-L but the bonus shares haven't been credited. Probably early days for them to be credited, but I've emailed H-L nevertheless asking them to look into the matter.
alan@bj
02/6/2017
17:10
alan - we applied for some (wife's acc) and should have been filled. May get more sub-100p if chance arises!
jonwig
02/6/2017
16:39
Did you buy a few AEW Long Lease REIT, JW?
alan@bj
02/6/2017
07:49
Ninth acquisition, and a general remark: "The Company has now acquired nine assets, deploying just under 75% of its net equity, at an attractive blended net initial yield of 5.85% and with a long WAULT to first break of 23 years, since Admission on 27 February 2017. We are also in solicitors' hands on a number of additional forward funding and built transactions which will fully absorb the balance of the Company's net equity in short order." That's quick progress!
jonwig
20/5/2017
09:03
jonwig Thanks for pointing out error. Moneyweek were negative about PRS.
njb67
20/5/2017
08:30
njb67 - they're negative on the PRS REIT (see my thread PRSR) but AEW ... ?
jonwig
Chat Pages: 3  2  1
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