LXI REIT plc (LSE:LXI) acquired Asda foodstore in Glasgow on March 29, 2021. In related transactions, LXI REIT plc (LSE:LXI) acquired six separate long income assets in the grocery sector from five different developers/vendors. The Acquisitions are for a total cost of £85 million and comprise both pre-let forward fundings and built investments. The acquisitions represent approximately 70% of the net proceeds of the recent capital raise of £125 million. The current rent of this 50,000 square feet store is £10 per square foot.They benefit from an accretive average net initial yield of 5.25% (net of acquisition costs), a long average unexpired lease term to first break of 19 years, are let on sustainable, low rents and 100% of the income is inflation-linked via contractual rental uplifts. Luke Simpson and Liz Yong of Peel Hunt LLP and Ed Matthews and Tom Yeadon of Jefferies International Limited acted as financial advisors to LXI REIT. LXI REIT plc (LSE:LXI) completed the acquisition of Asda foodstore in Glasgow on March 29, 2021.