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Michael Maddox

Assistant Fund Manager

Mike trained and qualified as a chartered surveyor (MRICS) and has over 10 years’ experience in the commercial real estate market. He has specialised in the active management and growth of Long indexed income strategies, most recently at KFIM and Aviva Investors.
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Charlotte Fletcher

Head of Transactions

Charlotte is a qualified solicitor with responsibility for managing and implementing transactions. Prior to joining the team, Charlotte trained and practised within the commercial real estate team at Travers Smith LLP, where she advised property funds, developers and lenders on a range of matters, including commercial and residential development and forward funding, acquisitions and disposal, re-financing and landlord and tenant work.
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Charlotte Price  

Financial Controller

Charlotte is a qualified Chartered Accountant (ACA). Prior to joining the team, Charlotte trained and qualified in the real estate team at BDO spending five years working with large property funds, developers and contractors. Charlotte's role at LXi involves overseeing the group accounting, reporting and financial planning. Charlotte also has responsibility for REIT regime and debt compliance reporting and heads the Group’s ESG initiatives.
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Simon Haarer

Head of Asset Management

Having qualified as a chartered surveyor at Knight Frank Simon spent the first 10 years of his career in Commercial Lease Advisory roles, latterly at CBRE, before moving into Asset Management. Since making the move he has managed a variety of asset classes including retail, offices, industrial and foodstores nationwide. Simon joined LXI in 2019 and oversees all Asset Management matters.
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Patricia Dimond

Non-Executive Director

Patricia Dimond has had an International career with over 30 years in consumer and financial markets. As an Executive or Strategic Advisor, she has worked with FSTE 100, Private Equity and owner managed companies. She is an investor in early stage technology ventures, with an expertise in Fintech. Patricia is an alumnae of McKinsey, 1994-1999 and a Chartered financial Analyst (CFA), 2006. She qualified, with Deloitte, as a Chartered Accountant (CA) in 1985, and holds an MBA from IMD Switzerland, 1993.  
Patricia currently serves as a Non-Executive Director for the English National Opera where she is Senior Independent Director (SID) and Chair of Audit &Risk.
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John Cartwright

Non-Executive Director

John Cartwright was formerly Chief Executive of AREF from 2009 to 2019 and remains on the Board. His responsibilities as Chief Executive of AREF were to represent and promote the interests of members, promote best practice in fund governance and ensure the smooth running of the association. Prior to this, John was with M&G Real Estate (formerly PRUPIM) for nearly 35 years in a variety of roles; latterly as Head of Institutional and Retail Funds and a member of PRUPIM’s Board and Investment Committee. He has more than 20 years’ experience of managing pooled and segregated accounts for both retail and institutional investors. John is also a member of the Investment Committee of Lothbury Property Trust.
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Jeannette (Jan) Etherden

Non-Executive Director

Jan Etherden has over 30 years' experience in the investment industry, as an analyst, fund manager, then a non-executive director.  Previously head of UK equities for Confederation Life/Sun Life of Canada, she joined Newton in 1996 as a director specialising in multi-asset segregated portfolios and also was their Investment COO from 1999 to 2001.  Subsequently she worked with Olympus Capital Management as business development manager for specialist hedge fund products.  She was a director of Ruffer Investment Company Ltd until November 2016 and currently is a director of both TwentyFour Income Fund and Miton UK MicroCap Trust plc.
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Colin Smith OBE

Non-Executive Director

Colin Smith OBE served for ten years as Chairman of Poundland Group Holdings, Europe’s largest single price discount retailer. Prior to this, he was Chief Executive and Finance Director of Safeway Plc, the national supermarket retailer.  Colin is currently Chairman of Hilton Food Group plc having served as non-executive director since 2010. Hilton is a specialist retail meat packing business supplying major international food retailers in thirteen European countries and Australia.  
He also has experience in the not for profit sector as Chairman of The Challenge Network and previously as a trustee of Save the Children and as Chairman of the food industry sponsored Red Tractor assurance scheme.
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Stephen Hubbard

Non-Executive Chairman

Stephen Hubbard previously serviced as Executive Chairman of UK CBRE Group, the world's largest property advisory firm. Before that Stephen served as Co-Head of CBRE Capital Markets Europe. He joined Richard Ellis in 1976 and served as Head of EMEA and UK Capital Markets from 1998 to 2012. He is also a member of the Advisory Board for Redevco which is a pan-European property holding company. Stephen has also been a director of Workspace Group plc since July 2014 and will serve as Chairman from July 2020
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Alex Mattey

Head of Investor Relations

Alex is responsible for managing investor relations for the group. Alex was previously an Investor Relations Manager for INTERNOS Global Investors, a pan-European real estate manager with €3.5bn AUM. Before that, Alex worked at Clearbell Property Partners, a UK opportunistic real estate manager, primarily assisting with raising their second fund which closed at £400m. Over the last 12 years, Alex has also worked as a Corporate Broker for public and private entities as well as providing IR consultancy to a range of FTSE 350 and small-cap companies.
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Nick Barker

Compliance Officer

Nick is Chief Compliance Officer for LJ Partnership. He has 30 years’ experience of financial regulation and compliance, having previously worked at HM Treasury; the US National Association of Securities Dealers (NASD); the Investment Management Regulatory Organisation (IMRO); in the compliance advisory teams at Deloitte & Touche and Ernst & Young; and as an independent compliance adviser. Nick is an MA of Oxford University.
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Sophie Rowney

General Counsel

Sophie is a Partner and General Counsel of LJ Partnership, overseeing LJ’s global legal activities across all service lines. Sophie joined LJ as Legal Counsel in 2012, and was appointed General Counsel in 2014. Sophie trained and practiced as a solicitor within the finance team at Slaughter and May, advising clients on a range of corporate and financing transactions. Sophie studied law at BPP Law School in London and holds a degree in English Literature from the University of Bristol.
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Freddie Brooks

CFO

Freddie leads on all strategic financial matters including fund reporting, budgeting and forecasting, treasury management and the monitoring of internal controls. Freddie is both a qualified Chartered Accountant (ACA) and Chartered Surveyor (Property Finance & Investment pathway). He has significant experience in the property sector and previously worked advising similar businesses at the number one audit firm and advisor to UK REITs, as well with private property funds, developers and contractors.
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Jamie Beale

Partner

Jamie has significant transaction management experience in the long income and forward funding real estate space. Prior to joining Osprey Equity Partners, Jamie spent five years in the City as a real estate lawyer where he acted for leading developers and property funds on a variety of deals, ranging from large scale residential developments to substantial commercial property transactions.
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Simon Lee

Partner and Fund Manager

Simon trained and practised as a solicitor at City law firm, Slaughter and May, from 1999 to 2006, following which he spent the next 10 years in private equity real estate, co-founding Osprey Equity Partners in 2011 and LXI REIT Advisors in 2017. Simon’s role covers a wide range of areas, including formulating Osprey’s investment strategies and products, raising equity and debt finance, asset selection, and negotiating and implementing transactions with vendors, purchasers, developers, investors, lenders and joint venture partners.
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John White

Partner and Fund Manager

John entered the commercial real estate market in 1987 and after qualifying as a chartered surveyor at Allsops moved to the investment team at Cushman & Wakefield. There he became a partner and spent the next 18 years advising a range of institutional investor clients on their UK acquisitions and disposals across the full range of real estate sub-sectors including retail (in and out of town), offices (London, Thames Valley and regional cities), logistics, and alternatives. John moved into private equity real estate in 2007 and co-founded Osprey Equity Partners in 2011 and LXI REIT Advisors in 2017.
The Company, a real estate investment trust (REIT), is listed on the premium listing segment of the Official List of the UK Listing Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017.  

The Company is a constituent of the FTSE 250, FTSE EPRA/NAREIT and MSCI indices.
‍LXi REIT intends to deliver inflation-protected income and capital growth over the medium-term for shareholders through investing in a diversified portfolio of UK property, that benefits from long-term index-linked leases with institutional-grade tenants. LXi REIT will only invest in assets with leases containing regular, upward-only rental reviews and will neither undertake any direct development activity nor assume direct development risk.

LXi REIT is targeting a minimum annual dividend of 5.5 pence per Ordinary Share, starting from the financial period commencing 1 April 2018 with the potential to grow through upward-only inflation-protected long-term lease agreements and is targeting a net total shareholder return of 8 per cent. plus per annum over the medium term1.

LXi REIT’s Investment Advisor is LXi REIT Advisors Limited, which is owned by Alvarium and the principals, shareholders and directors of Osprey Equity Partners Limited.

Annual fees paid to the Investment Advisor are highly competitive: annual fee of 0.75% on market capitalisation up to or equal to £500 million, and 0.65% above on market capitalisation above £500 million. No performance fee is payable to the Investment Advisor.
‍Investment Objective 

‍LXi REIT’s investment objective is to deliver inflation-protected income and capital growth over the medium-term for shareholders through investing in a diversified portfolio of UK property, that benefits from long-term index-linked leases with institutional-grade tenants. 

‍Investment Policy (Summary) 

‍LXi REIT will target inflation-protected income and capital returns through acquiring a diversified portfolio of UK property assets, let or pre-let to a broad range of tenants with strong covenants on very long and index-linked leases. 

LXi REIT will seek to acquire high quality properties, taking into account the following key investment considerations:
LXi REIT will target a wide range of sectors, including office, retail, leisure, industrial, distribution and alternatives – including hotels, serviced apartments, affordable housing and student accommodation. It will also focus on growth sub-sector areas such as discount retailers, budget hotel operators and “last mile” distribution units fuelled by online retail.

LXi REIT will seek to only acquire assets let or pre-let to tenants with strong financial covenants and on long leases (typically 20 to 30 years to expiry or first break), with index-linked or fixed rental uplifts, in order to provide security of income and low cost of debt. LXi REIT will only invest in assets with leases containing regular upward-only rental reviews. These reviews will typically link the growth in rents to an inflation index such as, RPI, RPIX or CPI (with potentially a minimum and maximum level) or alternatively may have a fixed annual growth rate.

LXi REIT will not undertake any direct development activity nor assume direct development risk.  However, LXi REIT may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. In such circumstances, LXi REIT will seek to negotiate the receipt of immediate income from the asset, such that the developer is paying LXi REIT a return on its investment during the construction phase and prior to the tenant commencing rental payments under the terms of the lease. 

Where LXi REIT invests in forward funded developments:
The Directors currently intend at all times to  conduct the affairs of LXi REIT so as to enable it to continue to qualify as a REIT for the purposes of Part 12 of the CTA 2010 (and the regulations made thereunder).

LXi REIT’s full investment policy is included in its Prospectus, which can be found in the Documents section of this website.
‍Investment Advisor and AIFM

The Company has appointed Alvarium Fund Managers (UK) Limited as its alternative investment fund manager (the "AIFM"). The Company and the AIFM have appointed the Investment Advisor to provide certain services in relation to the Company and its portfolio.

Alvarium Fund Managers (UK) Limited is 100 per cent. owned by Alvarium Investments Limited.  Alvarium was established in 2009 and has grown to become a substantial, international multi-family office and asset manager, supervising in excess of US$18 billion of assets, for families, private individuals and institutions. It has over 200 employees and 12 offices around the world.

The Investment Advisor has extensive expertise in the purchase and forward funding of commercial property assets let or pre-let on long, index-linked leases to institutional grade tenants with strong financial covenants across a wide range of defensive and robust sectors.

The Investment Advisor comprises property, legal and finance professionals with significant experience in the real estate sector. The team has capitalised and transacted over £2 billion of commercial property assets with a particular focus on accessing secure, long-let and index-linked UK commercial real estate through forward funding and built asset structures.

Management Team

The key individuals responsible for executing LXi REIT’s investment strategy are:
John White
Partner and Fund Manager
Simon Lee
Partner and Fund Manager
Freddie Brooks
CFO
Sophie Rowney
General Counsel
Nick Barker
Compliance Officer
Alex Mattey
Head of Investor Relations
Simon Haarer
Head of Asset Management
Charlotte Price
Financial Controller
Michael Maddox
Assistant Fund Manager
Non-Executive Directors

All of the Directors are non-executive and are independent of the AIFM and the Investment Advisor.
Stephen Hubbard
Non-Executive Chairman
Colin Smith OBE
Non-Executive Director
Jan Etherden
Non-Executive Director
John Cartwright
Non-Executive Director
Patricia Dimond
Non-Executive Director
1. This is a target only and not a profit forecast and there can be no assurance that it will be met.