Lightstone announces new real estate lending platform
Lightstone has launched a new real estate debt platform, Lightstone Capital. Founded to address the financing inefficiencies and roadblocks many borrowers face in the current market, Lightstone Capital provides a reliable source of flexible capital for real estate transactions at a speed faster than traditional lenders.
“Our decades of experience across every real estate sector allow us to see value and uncover opportunities where other lenders cannot,” said David Lichtenstein, Lightstone chairman and CEO. “As a developer, we understand the borrower’s perspective and needs, and we recognize their desire for a reliable lender that can work quickly.”
Tapping Lightstone’s extensive real estate investment and development knowledge, Lightstone Capital specializes in providing first-lien and mezzanine loans for bridge and construction financing projects secured by land and transitional real estate assets. The platform plans to close $500 million of financing within its first year.
Lightstone has hired Eugene Rozovsky to oversee and manage Lightstone Capital as senior vice president of real estate debt strategies. Prior to joining Lightstone, Rozovsky was vice president of acquisitions & asset management at Madison Realty Capital, where he led the team responsible for all debt and equity investments, closing more than $2 billion of transactions. Earlier in his career, Rozovsky held positions at Hudson Realty Capital and at Blackstone.
Lightstone Capital’s target loans range in size from as small as $3 million up to $100 million, secured by real estate assets located in gateway markets including New York, Miami and Los Angeles. Lightstone Capital will also consider strong projects in secondary markets.
