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Announced

Completed

LXi REIT completed the merger with Secure Income REIT in a $1.85bn deal.

Financials

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Transaction Value£1,500m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium15%
One Off Charge-

Tags

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Commercial REITs

Single Bidder

Majority

Domestic

Merger

real estate investment trust

Public

United Kingdom

Friendly

Acquisition

Completed

Synopsis

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LXi REIT, a real estate investment trust based in London, completed the merger with Secure Income REIT, a REIT specialising in generating long term, inflation protected income from real estate investments, in a $1.85bn deal. "The combination of these two proven, substantial, complementary inflation-protected portfolios, which will result in further diversification, significant growth opportunities, access to lower cost of capital, potentially increased share trading liquidity and lower management costs on a faster timescale than we would otherwise achieve, is a tremendous opportunity. Both boards share a common investment philosophy, where growth and a prudent approach to risk management are fundamental components," Martin Moore, Secure Income REIT Chairman.

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