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.”
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