LXi REIT has announced it has secured a £55m loan from Scottish Widows, acting in partnership with Lloyds Bank Commercial Real Estate.
The 12-year facility, which has a fixed all-in rate payable of 2.93% pa, will provide the debt resource needed to support the company’s acquisition of additional assets, comprising both forward funded and built properties.
LXi has deployed 85% of its current net equity and the full drawing of the facility reflects a loan-to-value ratio of 30%.
Simon Lee, partner at LXi, said: “We are delighted to have entered into this facility with Scottish Widows, which provides the company with a long-dated senior financing package at a very low fixed rate and offers the company substantial flexibility.”
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