NEW YORK--(BUSINESS WIRE)--LEX, the first and only commercial real estate securities marketplace that enables accredited and unaccredited investors to invest in individual properties, today announced it has appointed highly-respected real estate veterans Alicia Glen and Marty Edelman to the board of directors. The two add to the ranks of the company’s senior advisors who already include legendary venture capital investor Alan Patricof, Chairman Emeritus of Greycroft, and Craig Hatkoff, who is one of the earliest pioneers of commercial real estate and mortgage securitization and currently serves on the Boards of Colony Capital and SL Green, two of the country’s largest REITs.
“We are pleased to welcome Alicia and Marty to the board during this time of exciting growth for LEX,” said Drew Sterrett, co-founder and CEO of LEX. “The two bring an incomparable wealth of knowledge and experience to the team which will be invaluable as we continue to innovate and grow.”
New board member Alicia Glen was New York City’s former deputy mayor for housing and economic development for five years under Mayor Bill de Blasio. She spearheaded the successful rezoning of Midtown East and the Garment District in Manhattan and oversaw billions of dollars of capital investment in economic development initiatives across the Five Boroughs. Glen previously led Goldman Sachs’s Urban Investment Group and, prior to that, was a housing official under former New York Mayor Rudy Giuliani.
“I’m so excited to join LEX’s board because of how the platform can make cities—particularly New York, which is my first love—better, stronger and more inclusive,” said Glen. “By creating a marketplace for individuals to invest in commercial properties, LEX enables communities to directly benefit from the appreciation of buildings they shop, dine, and work in.”
Marty Edelman is currently of counsel at Paul Hastings and senior adviser to Mubadala, the strategic investment arm of the Abu Dhabi Government. One of the most active and respected practitioners in the real estate industry, he brings a wealth of experience, network, and sought-after wisdom from more than 40 years in domestic and international real estate. He has been involved in all stages of legal development of pioneering financial structures, including participating debt instruments, institutional joint ventures in all aspects of real estate, and joint ventures between U.S. financial sources and European real estate companies. He has also done extensive work in Europe, Canada, Mexico, Japan, the Middle East, and Latin America.
“I am excited to be joining the board of LEX and look forward to supporting the team as they structure deals to create public securities from single asset commercial real estate in a very creative way,” said Edelman. “LEX is solving an important need in the broader marketplace, empowering both investors seeking diversification and real estate owners seeking liquidity.”
The new board appointments signal continued growth for LEX as the company expands its offering of SEC qualified regulation A securities. The securities make commercial real estate assets available in $100 shares to the public for the first time. As LEX continues to expand its arsenal of top industry talent, more investors and real estate owners will gain access to the immense benefits of its platform.
LEX is the first and only commercial real estate securities marketplace. On LEX’s platform, both accredited and unaccredited investors can buy and sell shares of individual commercial real estate assets without prohibitively high minimums or a long lockup period. The groundbreaking marketplace will allow property owners to easily unlock equity while retaining operational control of their properties. LEX is democratizing the commercial real estate asset class and redefining real estate investing. For more information please visit, www.lex-markets.com.