LondonMetric has issued over 942 million shares today (6 March) after completing the £1.9bn acquisition of fellow real estate investment trust LXi REIT.
The merger creates the fourth-largest UK REIT by market cap, and according to Peel Hunt, LondonMetric to the edge of the FTSE 100, as well as delivering a "step-change" in earnings and dividends. The trust has also completed the acquisition of LXi's investment adviser, LXi REIT Advisors, and has named LXi director Nick Leslau a non-executive director of LondonMetric, effective immediately. The combined portfolio will total £6.2bn, and according to LondonMetric, it is aligned to "structurally support" sectors including logistics, healthcare, convenience, entertainment and leisure. L...
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