Lightstone DIRECT surpassed approximately $225 million in total investment volume less than a year after launching its real estate investment platform for accredited investors. The milestone follows the opening of Arlington Industrial, the platform’s fourth investment offering.
Lightstone DIRECT now spans industrial, multifamily, and retail real estate.
The Arlington Industrial investment consists of a six-building shallow-bay industrial property in Arlington, Texas.
The property totals 170,390 square feet and is located between Dallas and Fort Worth.
It is approximately 95% leased to 24 tenants, including HVAC contractors, distributors, and light manufacturers.
Lightstone acquired the property for approximately 45% below its estimated replacement cost.
The Arlington offering follows investments in Abernathy Industrial Park in South Carolina, Hidden Lakes Apartments in Grand Rapids, Michigan, and OKC Outlets in Oklahoma City.
Lightstone DIRECT has met every targeted monthly distribution since beginning distributions in April.
The platform’s structure involves Lightstone acquiring each property on its own balance sheet before offering interests to accredited investors.
Lightstone maintains at least a 20% equity investment in every transaction alongside outside investors.
The platform provides investors access to deals originated by Lightstone, which manages a real estate portfolio valued at more than $12 billion.
Lightstone’s broader portfolio includes 243 properties, more than 25,000 multifamily units, and over 16 million square feet of industrial, life sciences, and commercial real estate.
KEY QUOTES:
“We’re delighted to offer accredited investors the opportunity to invest alongside us and benefit from our 40-year track record.”
Mitchell Hochberg, President of Lightstone
“Small-bay industrial is increasingly difficult to build economically in Dallas–Fort Worth, yet demand for this type of space remains robust.”
Greg Fink, Chief Investment Officer of Lightstone
