New York real estate leader Cynthia Foster joins LEX as Chief Revenue Officer, will lead LEX’s institutional product offerings as LEX brings commercial real estate securities to the public
NEW YORK, NY -- February 18, 2021 -- LEX, the first and only commercial real estate marketplace that takes commercial buildings public via single-asset IPOs, announced the addition of Cynthia Foster to the company’s executive team as Chief Revenue Officer. Foster will drive LEX’s realestate growth initiatives, building on the company’s rapid growth and $11million in seed capital.
As CRO, Foster will oversee the evolution of LEX’s real estate strategy and expansion of future institutional commercial real estate assets on the platform. She brings more than 25 years of world-renowned experience and expertise to the already impressive LEX executive team. During her career, Foster has executed some of the world’s most notable commercial real estate transactions and facilitated over $12 billion in office sales and restructurings. Foster has completed over 20 million square feet of office leasing transactions. She joins LEX from Colliers International (“CIGI” on NASDAQ), one of the world’s largest publicly traded real estate services companies, where she served as President: Office Services. Previously, she served on the executive leadership team at Cushman & Wakefield and as a real estate investment banker at LAZARD after attending Harvard Business School.
"Joining the incredibly talented team at LEX is a unique opportunity to play an integral part in shaping the future of the commercial real estate industry,” said Foster. “I look forward to bridging the gap between the old world of real estate financing and the new one we’re creating at LEX."
The expansion of LEX's executive team signals an increase in scale as the company continues to redefine real estate as an asset class.LEX’s securities marketplace, which is powered by Nasdaq’s (NDAQ)market-leading Universal Matching System (UMS), provides accredited and non-accredited investors with the opportunity to acquire minority positions in commercial real estate properties via single-asset IPOs. This structure expands access beyond the traditional pool of institutional investors and provides as implified alternative to public REITs that offer commingled portfolios that may include hundreds of properties. Investments are offered as publicly traded partnership interests, allowing the full tax benefits of direct real estate ownership to pass through to investors.
“Cynthia brings unmatched experience to the table; we’re thrilled to expand our executive team with the best talent in real estate and with those who share our vision for its future,” said Drew Sterrett, co-founderand CEO of LEX. “Cynthia is one of the most influential executives in real estate, with a long-standing track record of success at one of the industry’s top firms and we’re incredibly excited that she’s joining LEX as we revolutionize the asset class.”
LEX is a venture-backed commercial real estate securities marketplace.LEX allows both accredited and non-accredited investors to buy and sell shares of individual commercial real estate assets without lockups, starting at $250.The platform is powered by Nasdaq to provide the same robust, low latency, and high-performance trading features used by 70+ global markets around the world.LEX allows property owners to unlock equity while retaining operational control of their properties. For more information, please visit www.lex-markets.com.
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