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]