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Deal snapshot: LXI REIT ACQUIRES THREE CARE HOMES IN NORTHERN IRELAND FOR GBP 14.9M.

MANews-(C)2009-2017

UK-based property investor LXi REIT plc (LSE: LXI) has acquired the freehold interest in two Priory Group care homes in Northern Ireland and exchanged contracts to acquire a third Priory Group care home for a total portfolio consideration of GBP 14.9m (USD 19.38m), the company said.

The price reflects a net initial yield of 6.5%. Each of the properties is fully let or pre-let to companies within the Priory Group, a provider of mental health and elderly care services. The Priory Group is ultimately owned by US-based Acadia Healthcare which has a market capitalisation of USD 4bn and operates a network of over 570 facilities with over 17,000 beds.

Country: UK

Sector: Construction/Real Estate

Target: Freehold interest in two Priory Group care homes in Northern Ireland, agreement to buy a third Priory Group care home

Buyer: LXi REIT

Vendor: Priory Group

Deal size in USD: 19.38m

Type: LBO

Financing: Cash

Status: Closed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Geographic Code:4EUUK
Date:Aug 14, 2017
Words:164
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