NEW YORK, NY – LRE Management, a leading real estate investment company with a focus on repositioning and renovating institutional-quality Multifamily properties, announced the acquisition of The Pointe at Lakewood Ranch (the “Pointe”), a 160-unit, brand new construction, luxury 55+ active adult community located in Lakewood Ranch, Florida. LRE now owns 16 apartment communities comprising over 4,600 units across seven states.
“We are thrilled to be acquiring The Pointe, our first Active Adult community, and a sector we’ve been tracking for a while now,” said Patrick O’Rourke, Principal at LRE. “The space is poised for tremendous growth and demand given demographic trends; that, coupled with the explosive 55+ population growth specifically in Southwest Florida, we think makes this a great acquisition.”
The Pointe was completed in 2023, and is currently in lease-up; Greystar, the existing manager, will continue executing the lease-up of the community. The Pointe is strategically located in Lakewood Ranch, one of the most successful master-planned community in the country, proximate to high-end shopping and dining, world-class beaches and golfing, making it a highly desirable retirement location. The community provides a comprehensive lifestyle experience with premium amenities and curated resident programming.
Active Adult communities are increasingly being developed across the country, as the growing segment of retirement-age segment seek attractive rental options that provide a sense community, resort-style living, and eliminates the burdens of homeownership.
“The plan is to complete the lease-up, refinance into fixed-rate debt and provide our residents with an unmatched living experience,” said Eric Londa, Managing Partner at LRE. “This acquisition reflects our strategic approach to aligning with demographic trends in markets poised for both population and economic growth.”
The Pointe marks the fourth acquisition for LRE Opportunity Fund I, which is focused on deploying capital into Multifamily assets in select markets across the U.S. The Fund remains open and offers new investors immediate exposure to its existing assets at their original cost basis.
About LRE Management LLC
Since its founding in 2012, LRE has acquired over 6,700 units, 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.
Contacts
Justin Lacy | Marketing and Investor Relations
justin@lremanagementllc.com