New York City-based LEX Markets Corp. recently introduced a new platform for investors in commercial real estate by making available equity shares of individual commercial real estate assets. Investors would be able to trade these shares, without fees or required holding periods, on LEX’s fully-licensed securities platform.
The first property made available on the LEX platform was an office and retail property at 286 Lenox Avenue in New York’s Harlem neighborhood. The property was listed in early November, with shares available on LEX’s platform at an opening price of $250 per share. The goal of the initial offering was to raise $2.15 million in equity.
