NEW YORK, Jan. 18, 2019 /PRNewswire/ -- National real estate investor and developer Lightstone announced today the launch of its new real estate debt platform, Lightstone Capital. Founded to address the financing inefficiencies and roadblocks many borrowers face in the current market, Lightstone Capital provides a reliable source of flexible capital for real estate transactions at a speed faster than traditional lenders.
"Our decades of experience across every real estate sector allow us to see value and uncover opportunities where other lenders cannot," said David Lichtenstein, Lightstone Chairman and CEO. "As a developer, we understand the borrower's perspective and needs, and we recognize their desire for a reliable lender that can work quickly."
Tapping Lightstone's extensive real estate investment and development knowledge, Lightstone Capital specializes in providing first-lien and mezzanine loans for bridge and construction financing projects secured by land and transitional real estate assets. The platform plans to close $500 million of financing within its first year.
Lightstone has hired Eugene Rozovsky to oversee and manage Lightstone Capital as Senior Vice President of Real Estate Debt Strategies. Prior to joining Lightstone, Mr. Rozovsky was Vice President of Acquisitions & Asset Management at Madison Realty Capital where he led the team responsible for all debt and equity investments, closing over $2 billion of transactions. Earlier in his career, Mr. Rozovsky held positions at Hudson Realty Capital and at Blackstone.
Lightstone Capital's target loans range in size from as small as $3 million up to $100 million, secured by real estate assets located in gateway markets including New York, Miami, and Los Angeles. Lightstone Capital will also consider strong projects in secondary markets.
Lightstone Capital underwrites opportunities with term sheets typically out within 3-5 business days, far more quickly than most present lenders.
To learn more about Lightstone Capital, please visit http://www.lightstonegroup.com/lightstone-capital/
Lightstone, founded by David Lichtenstein, is one of the largest and most diversified privately held real estate companies in the United States. Lightstone is active in 28 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With over 178 existing properties, Lightstone's $3 billion portfolio currently includes over 4.5 million square feet of office, retail and industrial commercial properties, over 15,000 residential units, and 4,300 hotel keys. Lightstone also owns over 12,000 land lots across the country.
Headquartered in New York City, Lightstone continues to grow its development portfolio with over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.
Teddy Wilson Simmons