The REIT, which has a £7.4bn NNN portfolio, has grown its book following the recent acquisitions of Highcroft Investments and Urban Logistics REIT.

It has maintained occupancy throughout this period at 98% which has facilitated rent collection of 99.4%. Annualised like-for-like income growth of 5.2% was achieved, up from 2.6% at the start of the year.

Even though the REIT has grown its portfolio through acquisitions it has been selling non-core assets and has disposed of 25 properties during this time, generating £185m in sales.

Additionally, 63 non-core LXi assets have now been sold for £273m which represents almost 10% of the original portfolio.

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There are currently around £100m of sales under offer, with the REIT also progressing with £65m of asset acquisitions.

LondonMetric has also been seeing to its debt financing arrangements and, following maturities, has repaid £349m of former LXi facilities secured against private hospitals in the portfolio.

These repayments have been partly funded through a new £180m unsecured three-year term loan and a new £150m US private placement with an average maturity of 5.5 years.

The new term loan benefits from an all-in cost of debt materially below that set on the repaid ULR term loan, whilst the private placement was priced at a blended rate of 5.3%.