| LXi REIT | |
| Type: | Public |
| Location: | London, UK |
| Key People: | Cyrus Ardalan, Chairman |
| Industry: | Property |
| Revenue: | £203.5 million (2023)[1] |
| Operating Income: | £(207.9) million (2023) |
| Net Income: | £(288.1) million (2023) |
| Parent: | LondonMetric Property |
| Homepage: | www.lxireit.com/ |
LXi REIT is a real estate investment trust based in London, England. It was listed on the London Stock Exchange until it was acquired by LondonMetric Property in March 2024.[2]
The company was established by Osprey Equity Partners with support from Ram Bhavnani, a wealthy Spanish investor, in 2016.[3] Bhavnani's previous ventures included a significant investment in Bankinter, a Spanish-based bank.[3] LXi REIT was the subject of an initial public offering in 2018.[3]
In January 2024, it was confirmed that LondonMetric Property would acquire LXi REIT in a deal worth £1.9 billion (US$2.43 billion).[4] The transaction received court approval on 4 March 2024.[5]
The company has a portfolio of commercial properties rented out to corporate customers on 20 to 30-year inflation-linked leases.[6] The net book value of the portfolio was £3.6 billion as at 31 March 2023.[1] Its assets include interests in the Thorpe Park and Alton Towers theme parks.[7]