Last fall, LEX Markets launched an IPO for a partial share of a retail-and-office property in New York City that was open to investors with a minimum of $250 to put in. After similar "multiple successful IPOs," the company is taking a Seattle building public, according to a company press release.

The building, Solis, is in the Pine-Pike corridor and is another mixed-use development, this time combining multifamily and retail with a sustainability focus. The six-story building has "34,260 square feet of total rentable space: 5,960 square feet across three retail units on the first floor, and 28,300 square feet across 45 residential units for rent on floors two through six."

According to the company, it has a platform that allows people to "open a LEX account, browse opportunities in various asset classes such as multifamily and office buildings, and buy shares of individual buildings." Investors can earn quarterly income and trade shares on the LEX public market, although liquidity is not guaranteed.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.