June 28, 2020
Harrison, New York: LRE Management LLC announced that an entity in which it has an 78% equity interest acquired Ardmore Apartments, a 291-unit multifamily property located in Fayetteville, North Carolina. An LRE related entity contributed $9.5 million of equity in connection with the acquisition and anticipated improvements to the property. Mortgage debt was obtained for the purchase that...
January 1, 2020
Harrison, New York- December 31, 2019. LRE Management LLC announced that an entity in which it has a 75% equity interest acquired Firewheel Apartments, a 366-unit multifamily property located in San Antonio, TX. An LRE related entity contributed $16 million of equity in connection with the acquisition and assumed existing mortgage debt that matures in 2024 and carries an interest rate of...
September 8, 2019
Harrison, New York- September 8, 2019: LRE Management LLC announced the sale of Stonington Estates, a 71-unit multifamily property located in Norwich, Connecticut in which an LRE entity had a 70% joint venture equity interest. The property sold for $9.2MM three years after acquiring it for $6.8MM and executing a value-add strategy by renovating a majority of the interior units. The sale...
July 30, 2019
Harrison, New York: LRE Management LLC announced that an entity in which it has an 80% equity interest acquired Livingston Apartments, a 448-unit multifamily property located in Tampa, Florida. An LRE related entity contributed $12 million of equity in connection with the acquisition and anticipated improvements to the property. Mortgage debt was obtained for the purchase that carries an...
July 1, 2019
Performance in the multifamily market ended 2018 much stronger than anticipated and has remained healthy through the first half of 2019. Strong economic growth and the robust labor market continue to support the strength in the multifamily market.
Strong demand for apartment units in 2018 came from higher interest rates and increasing single-family prices making rental housing...
May 1, 2019
Harrison, New York: LRE Management LLC announced that an entity in which it has an 85% equity interest acquired The Commons at Fort Mill, a 144-unit multifamily property located in Fort Mill, South Carolina. An LRE related entity contributed $7.5 million of equity in connection with the acquisition and anticipated improvements to the property. Mortgage debt was obtained for the purchase that...
January 15, 2019
Harrison, New York: LRE Management LLC announced that an entity in which it has an 80% equity interest acquired Water Ridge Apartments, a 476-unit multifamily property located in Irving, Texas. An LRE related entity contributed $11.1 million of equity in connection with the acquisition and anticipated improvements to the property. Mortgage debt was obtained for the purchase that carries an...