£3.9bn merger of LXI REIT Plc with Secure Income REIT Plc

BDO.LiveSite.Deals.DealTypeTransaction Services
BDO.LiveSite.Deals.IndustryReal Estate
BDO.LiveSite.Deals.ClientNameLXi REIT Plc

LXI is a UK REIT which aims to deliver inflation-protected income and capital growth through investing in a diversified portfolio of property, and SIR is a REIT that similarly invests in diversified real estate that provides long term inflation linked rental income.

Upon completion of the merger, the combined group now has a portfolio of 346 properties with a combined value of approximately £3.9 billion, establishing it  as a top 10 UK listed REIT by EPRA NTA (combined market value the day after trading was £2.5bn).

BDO has supported as an advisor to LXI since its 2017 IPO and to SIR since 2008. BDO acted as reporting accountant in relation to this Transaction.


“BDO has supported LXi as reporting accountant from launch at IPO to a post-merger market cap of £2.5bn. As reporting accountant for the merger, BDO demonstrated their real estate and capital markets transaction expertise, and gave responsive and constructive support on key areas of a complex deal. This provided confidence to management and the Board, and BDO’s support contributed greatly to the smooth completion of one of the UK’s largest listed REIT M&A transactions.”

Freddie Brooks, Head of Finance, LXi REIT Advisors