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Sainsbury’s property deal with LXi REIT falls through

The supermarket chain said last week that if the transaction went through, the proceeds would be used to part-fund the purchase of 21 freehold Sainsbury's supermarkets from the Highbury and Dragon portfolios.

Property investor LXi REIT has announced it is pulling out from a deal to buy 18 Sainsbury’s stores in southern England after suspending an equity funding, citing stock market volatility.

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