You are viewing 1 of your 1 free articles
Multi-purpose REIT invests all its funds
The LXI real estate investment trust (REIT) has invested all its equity and debt capital, totalling £273m.
Unlike most of the REITs involved in the social housing sector, LXI does not invest solely in social housing, but 24% (£66m) of its total funds are invested in the sector.
The REIT launched in February last year with an intention of buying up commercial properties, but announced four months later that it was expanding into social housing.
READ MORE
It had invested its entire £138m initial public offering and £55m of borrowed money in various kinds of real estate by September and has now exhausted the further funds it raised after that.
All the social homes it has bought so far are being used as supported housing, which has been the preferred type of housing for REITs in the sector.
