Lightstone DIRECT Closes First Fundraising Round and Investment, Launches First Multifamily Offering

Lightstone DIRECT successfully completed the first series close of its first offering, an industrial transaction in South Carolina, with over 70 accredited investors.

The platform also announced the launch of first multifamily offering, a value-add apartment complex in Grand Rapids, Michigan.

NEW YORK, April 15, 2026 /PRNewswire/ -- Lightstone DIRECT, a real estate investment platform built for high-net-worth individuals seeking institutional-quality opportunities without institutional barriers, today announced the successful close of their first industrial investment, and the launch of the platform's first multifamily investment opportunity. Lightstone DIRECT successfully secured participation from more than 70 accredited, high-net-worth investors for a value-add industrial deal in South Carolina, Abernathy Industrial Park. Additionally, the platform launched its first multifamily offering, Hidden Lakes. The offering will provide high-net worth individuals the opportunity to invest in a light value-add apartment complex in Grand Rapids, Michigan, which offers a target net 7.4% average cash-on-cash return over a 4-year target hold.

These investment opportunities bring qualified investors access to the same real estate investment approach that has made Lightstone, one of the leading and most diversified privately held real estate companies in the United States with over $12B in AUM, successful for four decades across industrial, multifamily, and other real estate sectors. Lightstone invested over 20% of the equity in Abernathy Industrial Park and will invest over 20% of the equity in Hidden Lakes – and in each subsequent Lightstone DIRECT investment.

"By investing over 20% of the equity in each transaction, we demonstrate clear conviction in the investments we pursue, and extend the kind of alignment that individual investors seek," said Mitchell Hochberg, President of Lightstone. "The success of Abernathy Industrial Park indicates that the Lightstone DIRECT model – the opportunity to invest alongside a $12B AUM, vertically integrated owner/operator, with a true partner, clearly resonates with our rapidly growing investor base."

Hidden Lakes, a 91.9% occupied, multifamily investment opportunity, fits squarely within Lightstone's broader multifamily strategy – a light value-add strategy, a pre-existing asset with strong in-place occupancy, and attractive target near-term cashflow for LP investors. The Grand Rapids market shows strong fundamentals with durable demand drivers, steady population growth, and a limited supply pipeline. With this investment, Lightstone DIRECT will leverage Lightstone's successful track record in the multifamily sector. The firm owns and operates over 25,000 multifamily units across the U.S., and over 10,000 in Michigan.

As the Lightstone DIRECT platform grows, individual investors, family offices, and RIAs can expect to see a diverse set of single-asset opportunities spanning numerous markets, across industrial, multifamily, and potentially other CRE asset classes.

Abernathy Industrial Park represents a strong, high-conviction investment for our platform," said Greg Fink, CIO of Lightstone DIRECT. "This type of single-asset industrial investment—backed by a GP with deep asset class and market-specific expertise—is rarely accessible to individual investors and reflects our broader industrial strategy: sourcing assets with strong cash flow, favorable market dynamics, and opportunities to create value through active management. Similarly, Hidden Lakes provides a compelling multifamily opportunity in a robust Michigan market, combining stable occupancy with potential for value creation and illustrating the breadth of opportunities available through Lightstone DIRECT."

To learn more about the platform and to inquire about investment opportunities, visit lightstonedirect.com.

ABOUT LIGHTSTONE DIRECT
Lightstone DIRECT is the direct-to-investor platform by Lightstone. Built for accredited investors who want more direct, aligned private-market real estate investing. Founded in 2025, and backed by Lightstone's four-decade operating history and scale, Lightstone DIRECT allows accredited individuals to invest in the same opportunities that Lightstone pursues with its own capital. Lightstone invests 20% or more of the equity in each Lightstone DIRECT opportunity, and each investment benefits from the same vertically integrated approach that has built Lightstone's success across market cycles.

ABOUT LIGHTSTONE
Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 26 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 235 existing properties, Lightstone's over $12 billion portfolio currently includes over 15 million square feet of industrial, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys. Lightstone's development portfolio includes over $3.5 billion developed in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.

SOURCE Lightstone DIRECT