Real Estate Weekly
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Thor backs new real estate securities marketplace

LEX, the first commercial real estate securities marketplace available to retail investors, closed $4 million in seed financing co-led by Greycroft and Thor Equities.

On LEX’s platform, everyday Americans will be able to buy and sell shares of individual commercial properties.


“LEX is creating a simple solution to a complex problem that has been around as long as I’ve been investing,“ said Alan Patricof, co-founder and managing director of Greycroft, “There’s clearly a large demand for access to commercial property investments, and the LEX team is meeting that demand.”

LEX offers a solution to a two-sided capital markets problem that has vexed both retail investors and real estate owners for decades.

LEX will enable retail investors to directly invest in individual commercial real estate properties.

The shares offered on LEX’s platform will be issued under Regulation A, allowing purchases by non-accredited retail investors. The shares offered will be publicly traded partnership interests, allowing the full tax benefits of direct real estate ownership to pass through to investors.

The LEX platform will provide users with tools to research and compare properties, and securities will be priced initially at $100 when offered,.
Property owners selling ownership interests through LEX will retain operational control of their properties while gaining access to a broad pool of equity capital. Shares will be publicly tradable in the open market, resulting in greater liquidity and more accurate and current asset valuations.


“LEX creates a whole new way for real estate owners to realize equity appreciation on their assets,” said Joseph Sitt, founder and chairman of Thor Equities. “The new marketplace is going to make a huge impact on liquidity in the asset class.”

LEX is founded by two brothers, Drew and Dean Sterrett, who serve as CEO and Head of Product, respectively, and Jesse Daugherty, a former Google engineer.

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