Mamaroneck, NY – June 1, 2023 – LRE Management (“LRE”), a privately-owned national real estate investment manager for family offices, ultra-high-net-worth investors and small- and mid-size institutions, today announced the first closing of LRE Opportunity Fund I LP (“the Fund”).
The Fund is LRE’s inaugural closed-end real estate fund, building on a successful track record of 19 acquisitions and 5 exits since the company’s founding in 2012. The Fund will focus on acquiring, repositioning, renovating and managing multifamily properties, predominantly in the Sunbelt and Midwest. The Fund will target well-located, institutional-quality properties in markets and submarkets characterized by favorable demographics, strong economic growth and significant population in-migration.
“We’ve seen great participation in the Fund from our existing investor base, as well as new investors, largely due to our differentiated capabilities, proven track record, and reputation for transparency over 10-plus years,” said Eric Londa, Founder and Managing Partner at LRE. “We look forward to continuing to source unique investment opportunities, execute on our existing portfolio of properties, and ultimately delivering strong risk-adjusted returns for our partners.”
“We believe we are at the start of a new cycle, as values reset, this has the possibility to be a generational buying opportunity,” added Londa. “Having a permanent capital vehicle in an environment like today is critical to being awarded opportunities, as speed of execution is being carefully considered by sellers.”
Evan Klein, Partner at LRE added “Its been a challenging year for capital raising, and we are very pleased with where we are with our first closing. We take great pride in the continued trust and interest from our partners, and we are excited about the opportunity to continue to build on our strong track record in this new chapter with the LRE Opportunity Fund.”
The Fund will remain open to investors through November 2024.
About LRE Management LLC
LRE Management is a leading real estate investment company with a focus on repositioning and renovating institutional-grade multifamily properties in the Sun Belt and Midwest regions. Since its founding in 2012, LRE has acquired over 6,600 units across 10 states, with transactions totaling in excess of $1 billion. LRE’s goal is to deliver consistent risk adjusted returns to its investors through all economic cycles. The firm employs a disciplined approach to asset selection, intensive asset management and property operations while working to improve communities for its residents. To learn more please visit lremanagementllc.com and follow us on LinkedIn.
Contact:
Justin Lacy | Investor Relations and Marketing
LRE Management LLC
justin@lremanagementllc.com