LXi REIT and Secure Income REIT pursue merger

Significant cost savings

The boards of LXi REIT and Secure Income REIT have reached a merger agreement as they believe investors will benefit from the scale, cost-savings and accretion of cash associated with the deal.

The merger would entail LXi to acquire the entire issued share capital of Secured Income (SIR), with the SIR shareholders entitled to receive 3.32 LXi shares for every SIR share they hold or a partial...