LXI REIT Advisors’ CFO stands down

Freddie Brooks has resigned as CFO of LXi REIT Advisors. The REIT said he had made the decision “to pursue other opportunities”. Brooks will stand down as CFO and as a director in September, but will continue to act as a consultant until the end of the year to ensure a smooth transition. During his six years at the REIT’s investment adviser, the portfolio has grown tenfold from £300m to £3.4bn, in part due to the merger with Secure Income REIT in July 2022. The REIT has also successfully concluded multiple equity capital raises, debt issuances and a £773m refinancing in April 2023. The company’s annual dividend has grown at a compounded rate of 5% per annum. Chair Cyrus Ardalan said: “Freddie leaves the investment adviser with the company’s portfolio well positioned to provide further value to shareholders through defensive, inflation-protected income returns with the potential for capital growth. He will depart with our very best wishes.” To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews