LXi REIT

LXi REIT is a British real estate investment trust based in London. It was listed on the London Stock Exchange until it was acquired by LondonMetric Property in March 2024.^[2]

LXi REIT

Company type	Public
Traded as	Formerly LSE: LXI
Industry	Property
Founded	2016; 9 years ago (2016)
Headquarters	London, UK
Key people	Cyrus Ardalan, Chairman
Revenue	£203.5 million (2023)[1]
Operating income	£(207.9) million (2023)[1]
Net income	£(288.1) million (2023)[1]
Parent	LondonMetric Property
Website	www.lxireit.com

History

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]

Operations

Thorpe Park theme park is one of LXI's assets.

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]