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

8-time PGA TOUR winner to collaborate with LRE Management on strategic initiatives

Acquisition brings LRE’s national portfolio to 15 properties across 7 U.S. states

NEW YORK, September 12, 2024 – 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 two new milestones for the firm.

Patrick Cantlay, a top 10 world ranked professional golfer who competes on the PGA TOUR, joins LRE’s inaugural LRE Opportunity Fund I (“the Fund”) as an investor and General Partner, and becomes a member of the company’s newly formed advisory board. In conjunction, LRE confirmed the acquisition of a 778-unit, three-property multifamily portfolio located in Atlanta, GA. The three properties, all built in the early- to mid-2000s, comprise Eastwood Village in Stockbridge (“Eastwood”); Monterey Village in Jonesboro (“Monterey”); and Peachtree Landing in Fairburn (“Peachtree”). Together, they represent the first investments of the Fund.

“Outside of my focus on professional golf, I have always been interested in real estate investing, particularly multifamily properties given their resiliency throughout the economic cycle and high long-term performance,” said Cantlay. “Having primarily played more of an LP role in my existing real estate investments, the timing feels right to take the next step in this parallel career. Eric and the broader LRE management team possess a competitive drive and strong mix of real estate investment experience, access to deal flow, and a track record of success that makes them the ideal partner to continue this journey.”

“Patrick has demonstrated a serious commitment to actively participating in our business. His fresh insights, genuine enthusiasm, and competitive spirit will absolutely be accretive to LRE as we continue to scale and grow the platform,” said Eric Londa, Founder and Managing Partner of LRE Management. “Regarding the purchase of this three-asset portfolio, we believe that acquiring 2000s vintage assets in a tier-one market at pre-pandemic pricing and at a significant discount to current replacement cost represents a once-in-a-multi-decade investment opportunity.”

Mortgage debt was assumed for the purchase that carries an interest rate of 3.84% and is due in two years. Eastwood, Monterey and Peachtree together comprise 778-units and sit in the heart of Atlanta’s rapidly growing industrial corridor. Each property features a mix of one-, two- and three- bedroom apartments, as well as a resort-style pool and fitness center. LRE plans to renovate select unit interiors, modernize amenities, and implement the firm’s best-in-class operational processes and technology for property and asset management.

With multifamily property values in March 2024 down by approximately 20 percent from their peak in June 2022, as reported by Costar, LRE is moving quickly to deploy capital in select markets across the U.S. LRE now owns 15 apartment communities comprising 4,400-plus units across seven states.

“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. The Fund remains open and offers new investors immediate exposure to its existing assets,” 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.”

“LRE has developed a strong operational strategy in this pocket of Atlanta over the years, and we are confident in our ability to turn operations around over the next 12-24 months,” said Evan Klein, a Partner at LRE. “Both ownership and the community’s residents will benefit from the proximity of the communities and the resulting economies of scale.”

Per the U.S. Census Bureau, the Atlanta metropolitan statistical area is the sixth-largest and third-fastest growing region in the country, adding nearly one million new residents since 2010. Year-over-year household incomes across Fairburn, Jonesboro, and Stockbridge also grew by 17.1% on average, according to the Bureau’s most recent data release.

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.

Media Contacts
For LRE Management
Justin Lacy | Marketing and Investor Relations
justin@lremanagementllc.com

For Patrick Cantlay
Aidan O’Connor, Prosek Partners
pro-klover@prosek.com

Mamaroneck, NY – June 14, 2024 – LRE Management LLC (“LRE”), a New York-based real estate investment manager for Family Offices, High Net Worth individuals and Advisors, announced the sale of its 80% Joint Venture ownership interest in Water Ridge Apartments (“the Property”), a 476-unit multifamily property located at 4600 W Pioneer Drive in the Irving area if Dallas. The property sold for $57,000,000, five and a half years after acquiring it for $44,000,000.

LRE acquired Water Ridge in 2019 as a Value-Add opportunity with favorable long-term fixed-rate agency financing. Previous ownership had renovated ~90% of the units, but had not completed the lease-up post renovation or pushing rents to market. Centrally located in Irving, and just a few miles South of DFW International Airport, the property benefited from Dallas’s booming economy and population growth. The property features 232 one-bedroom floorplans, 224 two-bedrooms, and 20 three-bedrooms, as well as tennis courts, pool, clubhouse and fitness center for residents.

The property was refinanced in 2020, allowing for a significant return of capital at that time. The partnership encountered several unique challenges over the life of this investment, including multiple freeze issues that caused major plumbing problems (most significantly from the Great Texas Freeze), the property’s insurance company went bankrupt, and had a fire that took one building offline for a long period of time.

“We are pleased with the outcome of this investment especially in the current transaction environment, and considering the number of setbacks that were thrown at us. This deal was a great example of even when things don’t go as planned, if you buy at the right cost basis in the right markets, and finance with long-term fixed debt, you can still comfortably exit,” said Eric Londa, Founder and Managing Partner of LRE. “The Dallas market has benefited from strong growth fundamentals in recent years, and we feel it will continue to do so into the foreseeable future. At one time we owned over 800 units in Dallas, and while the sale of Water Ridge marks our exit from the (Dallas) market, it will continue to be a target market for our Fund, LRE Opportunity Fund I.”

About LRE Management
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

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

Mamaroneck, NY – September 23, 2022 – LRE Management LLC (“LRE”), a national real estate private equity firm, today announced that a Joint Venture entity in which it has an 85% equity interest has sold Sunridge Apartments (“the Property”), a 332-unit multifamily property located at 145 Pioneer Parkway in the Grand Prairie area of Dallas. The property sold for $33,000,000, five years after acquiring it for $17,050,000.

LRE acquired Sunridge in 2017 as a Value-Add opportunity with favorable long-term fixed-rate agency financing. As a part of the value-add strategy, units were updated, landscaping and clubhouse improvements were made, the exterior was painted and a new playground was installed. The property features 1 and 2-bedroom floorplans with an average unit size of 511 square feet. The community offers residents a pool, basketball courts, clubhouse, gathering areas and a fitness center.

“We are very pleased with the outcome of this investment especially in the current economic environment. The Dallas market has benefited from strong growth fundamentals in recent years and we feel good about the timing of our sale. The partnerships ability to source this deal and execute on the business plan culminated in us exceeding return projections,“ said Eric Londa, Managing Partner at LRE.

LRE acquisitions focus on apartment communities in high growth primary markets where there is a supply-demand imbalance and secondary and tertiary cities with solid fundamentals, acquiring properties directly as sponsor, or forming joint ventures as the majority-LP or Co-GP. To discuss new acquisitions, recapitalizations or joint venture opportunities reach out to acquisitions@lremanagementllc.com.

About LRE Management LLC
LRE Management LLC (“LRE”) is a national private real estate company that acquires Multifamily properties throughout the country. LRE invests side by side with its network of high net worth and family office partners by acquiring properties directly or forming Joint Ventures with proven sponsors and operators. LRE’s core investment principle is to deliver tax efficient current income while generating long term capital appreciation for its investment partners. Since its founding, LRE and its associated entities have acquired over 6,600 units with transactions totaling in excess of $1.0 billion. For more information about LRE Management, visit www.lremanagementllc.com, Linkedin or call (704) 253-0520.

Contact:
Justin Lacy | Marketing and Investor Relations
LRE Management LLC
justin@lremanagementllc.com

Mamaroneck, New York – July 6, 2022 – LRE Management LLC (“LRE”), a national real estate private equity firm, announced that a Joint Venture entity in which it has an equity interest completed the acquisition of Club Meridian Apartments (“the Property”), a 406-unit multifamily property located in Okemos, MI, a suburb of East Lansing. LRE contributed $17.1 million of equity in connection with the off-market transaction. Mortgage debt was obtained for the purchase that carries an interest rate of 4.4%, 10-year maturity date and interest only period through 2032.

Built in 1991, this garden-style Class B community has 120 one-bedroom, 284 two-bedroom units and 2 three-bedroom units. The Property is well positioned in an affluent suburb of Lansing, Michigan’s capital city and in proximity to the 12th largest university in the country, Michigan State University, home to over 55,000 students. The Property offers residents a number of amenities, including a pool, clubhouse, gym, and both tennis and basketball courts.

“This investment represents our first outside the Sun Belt in several years. We see Lansing as a strong recession resistant Michigan market, a city bolstered by education, government, and the automotive and healthcare industries.”, shared Eric R. Londa, Managing Partner at LRE. “We saw a strong opportunity at Club Meridian to secure long-term fixed rate debt, onboard an institutional property manager, execute a light value-add program to enhance unit interiors and property-level common areas and to ultimately drive the in-place, below market rents, closer to comparable properties.”

In addition to the significant employment presence of the Education, Health and Government (“Eds & Meds”) sectors in Lansing, General Motors is investing $7.0 billion in four Michigan manufacturing facilities to make Michigan the hub of Electric Vehicle development and manufacturing. Lansing will receive a $2.6 billion investment from GM to build a new lithium battery factory in a joint venture with LG. And it’s worth noting that Lansing is already home to GM’s two newest and most technologically advanced automotive plants.

LRE acquisitions continue to target apartment communities in high growth primary markets where there is a supply-demand imbalance and secondary and tertiary cities with solid fundamentals.

About LRE Management LLC
LRE Management LLC (“LRE”) is a national private real estate company that acquires Multifamily properties throughout the country. LRE invests side by side with its network of high net worth and family office partners by co-investing or forming Joint Ventures with proven sponsors and operators. LRE’s core investment principle is to deliver tax efficient current income while generating long term capital appreciation for its investment partners. Since its founding, LRE and its associated entities have acquired over 6,500 units across 22 properties, with transactions totaling in excess of $1.0 billion. For more information about LRE Management, visit www.lremanagementllc.com, or Linkedin or call (704) 253-0520

Contact:
Eric R. Londa | Managing Partner
LRE Management LLC
info@lremanagementllc.com

Mamaroneck, NY – June 7, 2022 – LRE Management LLC (“LRE”), a national real estate private equity firm, today announced that a Joint Venture entity in which it has an 85% equity interest has sold Madison Grove Apartments, a 171-unit multifamily property located at 7045 N 7th St. in the Uptown area of Phoenix. The property sold for $51,300,000, or $300,000 per unit, four years after acquiring it for $21,700,000, or $126,900/unit.

LRE acquired Madison Grove in 2018 in an off-market transaction, as a Core-Plus deal, immediately after the property had undergone a full renovation. It is located in the desirable 7th Street Corridor, an area known for its restaurants, shopping and entertainment, and in close proximity to employment centers. Madison Grove features 1 and 2-bedroom floorplans with an average unit size of 576 square feet. The community offers residents a resort style pool, modern clubhouse, gathering areas and a fully equipped gym.

“The Phoenix market has benefited from some of the best growth fundamentals in the country in recent years. This coupled with expert execution of the business plan enabled us to generate significant returns for our investors,“ said Eric Londa, Managing Partner at LRE.

LRE acquisitions have focused on the Sun Belt region, encompassing the states found in the Southeast and Southwest, targeting apartment communities in high growth primary markets where there is a supply-demand imbalance and secondary and tertiary cities with solid fundamentals. LRE typically invests as a majority-LP or Co-GP. To discuss new acquisition and joint venture opportunities reach out to acquisitions@lremanagementllc.com.

About LRE Management LLC
LRE Management LLC (“LRE”) is a national private real estate company that acquires Multifamily properties throughout the country. LRE invests side by side with its network of high net worth and family office partners by co-investing or forming Joint Ventures with proven sponsors and operators. LRE’s core investment principle is to deliver tax efficient current income while generating long term capital appreciation for its investment partners. Since its founding, LRE and its associated entities have acquired over 6,000 units with transactions totaling in excess of $1.0 billion. For more information about LRE Management, visit www.lremanagementllc.com, Linkedin or call (704) 253-0520.

Contact:
Eric R. Londa | Founder, Managing Partner
LRE Management LLC
info@lremanagementllc.com

 

Mamaroneck, New York – March 11, 2022 – LRE Management LLC (“LRE”), a national real estate private equity firm, announced that a Joint Venture entity in which it has an 90% equity interest completed the acquisition of Esperanza Apartments (“the Property”), a newly developed 244-unit multifamily property located in San Antonio, TX. LRE contributed $20.6 million of equity in connection with the off-market transaction. HUD debt was assumed for the purchase that carries a fixed interest rate of 3.15% and a 40-year term.

Built in 2020, this garden-style Class A community has 24 studio, 76 one-bedroom, 120 two-bedroom units and 24 three-bedroom units. The Property, less than 2 years old, is in exceptional condition with luxury interior features, a resort style pool, state of the art fitness center, fully equipped clubhouse, dog park and wash station, movie lawn and outdoor game court.

“With no value-add investment planned, the business plan is quite simple; roll over below-market leases from the initial lease-up to market rates, implement first-class operations and generate consistent cash-flow for our equity partners during our long-term hold with low fixed-rate HUD debt”, shared Eric R. Londa, Managing Partner at LRE. “We are thrilled to be acquiring our fourth property in the San Antonio market, and our eighth in Texas. San Antonio, which historically lagged the rent growth of Austin and Dallas, has emerged from the pandemic stronger and is now attracting institutional capital and corporate relocations given its consistent population growth, educated workforce and affordability relative to Austin, just 70 miles away.”

The Property is located West of downtown San Antonio, in the aptly named Far West Submarket, where population growth has been explosive over the past decade and is forecasted to continue. West San Antonio, like the overall market, includes a diverse group of employers including JP Morgan Chase, Wells Fargo, Southwest Research Institute, Sea World and Lackland Air Force Base. The submarket also has highly rated K-12 schools, outdoor amenities like Government Canyon State Natural Area and plenty of retail and dining options.

San Antonio is the seventh-largest city in America and the second largest in Texas behind only Houston. Per the most recent Census, the city was ranked in the top three in population growth nationally. Affordability and a diverse and high paying job base have attracted in-migration from all over the country, and as of this year, the metro is the number one destination for Texans.

LRE acquisitions have historically focused on the Sun Belt region, encompassing the states found in the Southeast and Southwest, targeting apartment communities in high growth primary markets where there is a supply-demand imbalance and secondary and tertiary cities with solid fundamentals.

About LRE Management LLC

LRE Management LLC (“LRE”) is a national private real estate company that acquires Multifamily properties throughout the country. LRE invests side by side with its network of high net worth and family office partners by co-investing or forming Joint Ventures with proven sponsors and operators. LRE’s core investment principle is to deliver tax efficient current income while generating long term capital appreciation for its investment partners. Since its founding, LRE and its associated entities have acquired over 6,000 units across 21 properties, with transactions totaling in excess of $1.0 billion. For more information about LRE Management, visit www.lremanagementllc.com, or Linkedin or call (704) 253-0520

Contact:
Eric R. Londa | Founder, Managing Partner
LRE Management LLC
info@lremanagementllc.com

Mamaroneck, New York – January 10, 2022 – LRE Management LLC (“LRE”) announced that an entity in which it has an equity interest completed the acquisition of The Village at Apison Pike (“the Property”), a 248-unit multifamily property located in Chattanooga, TN. An LRE related entity contributed $8.2 million of equity in connection with the acquisition. Mortgage debt was obtained for the purchase that matures in 2028, carries an interest rate of 3.09% and is interest -only for the full term.

Built in 2015, this garden-style Class A community has 116 one-bedroom, 108 two-bedroom units and 24 three-bedroom units. The Property, less than 5 years old, is in great condition with luxury interior features, a resort style pool with cabanas, state of the art fitness center, fully equipped clubhouse with a gaming room and a dog park. LRE plans to further enhance the Property with a complete exterior paint, minor renovations to the clubhouse and amenity enhancements.

The Property is located east of downtown Chattanooga, one of the strongest secondary MSAs in the country. It sits in the affluent and desirable suburb of Ooltewah, a submarket characterized by strong rent growth being driven by limited supply and an influx of high earning technology, pharmaceutical, manufacturing and industrial jobs. Major employers in the area include Volkswagen, Amazon and McKee Foods.

Chattanooga, the “Gig City”, boasts having the fastest and most advanced internet in the country, and has been attracting a growing tech startup scene. It is the first city in the Western Hemisphere to offer one-gig internet service to all residents and businesses. Forbes magazine recently ranked Chattanooga number one for Employment Outlook, due to corporate expansions and the city’s location at the crossroads of high growth metros of Atlanta, Nashville and Birmingham.

“We are thrilled to be entering the Chattanooga market, one of the most sought-after secondary markets in the Southeast. With no state income tax and a business friendly climate, Tennessee continues to be one of the fastest growing states for both population and job growth and that trend has accelerated since the onset of the pandemic. ”, shared Eric R. Londa, Managing Partner at LRE.

LRE acquisitions have focused on the Sun Belt region, encompassing the states found in the Southeast and Southwest, targeting apartment communities in high growth markets where there is a supply-demand imbalance and secondary and tertiary cities with solid fundamentals.

About LRE Management LLC

LRE Management LLC (“LRE”) is a private real estate company that acquires Multifamily properties throughout the country. LRE invests side by side with its network of high net worth and family office partners by co-investing or forming Joint Ventures with proven sponsors and operators. LRE’s core investment principle is to deliver tax efficient current income while generating long term capital appreciation for its investment partners. Since its founding, LRE has acquired over 6,000 units across 20 properties, and transactions totaling in excess of $1 billion. For more information about LRE Management, visit www.lremanagementllc.com or call (704) 253-0520

Contact:
Eric R. Londa  |  LRE Management LLC
Founder, Managing Partner
info@lremanagementllc.com

Mamaroneck, New York – August 31, 2021 – LRE Management LLC (“LRE”) announced that an entity in which it has an 85% equity interest completed the acquisition of the Vue on 67^th (“the Property”), a 178-unit multifamily property located in Davie, FL, within the Miami-Fort Lauderdale MSA. An LRE related entity contributed $12 million of equity in connection with the acquisition and anticipated improvements to the property.

Built in 1972, and renovated in 2020, this well-maintained community has 124 one-bedroom and 54 two-bedroom units. Previous ownership completed a $6MM value-add renovation just prior to Covid, leaving significant upside in the rental income as the Property captures the rental increases being achieved in the South Florida market. LRE also plans to upgrade the remaining 40% of classic and partially renovated units to the full upgrade package, which includes quartz countertops, new kitchen cabinets, stainless steel appliances and the addition of in-unit washer and dryers, a unique feature for a property of the vintage.

The property is well located in the heart of Central Broward County amongst several of South Florida’s major employment centers, 15 minutes to downtown Ft. Lauderdale and has nearby access to I-595, I-95 and the Florida Turnpike with connectivity to Miami Dade and Palm Beach counties. Broward County is recognized as one of the nations fastest growing counties with a projected 9.2% population growth rate from 2020 to 2025. The Property is adjacent to the South Florida Education Corridor, a consortium of 5 colleges with over 55,000 students.

“We are excited to acquire our second Florida asset and our first in South Florida, one of the fastest growing markets in the country in terms of both population and job growth.  The Property is positioned extremely well in the Davie market, offering an upscale product at an affordable rent relative to nearby newly built properties”, shared Eric R. Londa, Managing Partner at LRE.

LRE acquisitions have focused on the Sun Belt region, encompassing the states found in the Southeast and Southwest, targeting apartment communities in high growth markets where there is a supply-demand imbalance and secondary and tertiary cities with solid fundamentals.

About LRE Management LLC

LRE Management LLC is a private real estate company that acquires Multifamily properties throughout the country. LRE Management invests side by side with its network of high net worth and family office partners by co-investing or forming Joint Ventures with proven sponsors and operators. LRE’s core investment principle is to deliver tax efficient current income while generating long term capital appreciation for its investment partners. Since its founding, LRE Management has acquired over 6,000 units across 20 properties, and transactions totaling in excess of $1 billion. For more information about LRE Management, visit www.lremanagementllc.com or call (704) 253-0520

Contact:

Eric R. Londa  l  LRE Management LLC
Founder, Managing Partner
info@lremanagementllc.com

Harrison, New York – February 15, 2021 – LRE Management LLC, a New York based national real estate
investment company, announced that an entity in which it has an 90% equity interest acquired Legacy Ridge Apartments, a 374-unit multifamily property located in Atlanta, Georgia. An LRE related entity contributed $16 million of equity in connection with the acquisition and anticipated improvements to the property. Mortgage debt was obtained for the purchase that carries an interest rate of 3.29% and a 10-year maturity date of 2031, with interest only payments through 2024.

Built in 2008, this well-maintained community has 136 one-bedroom, 196 two-bedroom and 42 three-bedroom units.
The property is situated close to the South Atlanta Industrial Corridor, the nation’s fastest growing industrial market and 5th largest overall. The growth of the South Fulton submarket is tied to its proximity to Hartfield-Jackson Airport and the Port of Savannah.

“We are excited to be acquiring a high quality institutionally owned asset in Atlanta, one of the best performing rental markets in the country in 2020. Atlanta’s explosive growth is expected to continue as the pandemic has accelerated the migration south,” shared Eric R. Londa, Managing Partner at LRE Management LLC. “Legacy Ridge
is a nice addition to our diversified portfolio as we continue to add newer vintage assets that can benefit from a
modernization of amenities, a refresh and upgrade of unit interiors and the implementation of an ESG initiative
through the lender’s Green program that will target water and energy savings in our capital renovation plan”.

About LRE Management LLC
LRE Management LLC is a private real estate company that acquires Multifamily properties throughout the country.
LRE Management invests side by side with its network of high net worth and family office partners by co-investing or
forming Joint Ventures with proven sponsors and operators. LRE’s core investment principle is to deliver tax efficient current income while generating long term capital appreciation by investing in non-correlated Multifamily real estate assets.

Contact:
eric@lremanagementllc.com
https://www.lremanagementllc.com

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 carries an interest rate of 3.01% and a 10-year maturity date of 2030, with interest only until 2025.

Built in 2012, this well-maintained community has 78 one-bedroom, 168 two-bedroom and 45 threebedroom units. The property is extremely well located in the Fayetteville sub-market and benefits from its close proximity to Fort Bragg, the largest military installation in the world with over 52,000 active duty personnel and an additional 90,000 civilian population.

“We are glad to add another high quality asset in the Sunbelt to our portfolio. North Carolina is one of the fastest growing states in the country and Fayetteville has a strong job base in government, healthcare and
education, which we like in the current economic climate” shared Eric R. Londa, Managing Partner at LRE Management LLC. “We are acquiring a newer built asset significantly below replacement cost in a submarket that is extremely well occupied with no new supply for the foreseeable future. Additionally, we were able to secure Agency financing at historic low interest rates which should generate immediate cashflow and long-term capital appreciation for our trusted investors and partners.”

About LRE Management LLC
LRE Management LLC is a private real estate company that acquires Multifamily properties throughout the country. LRE Management invests side by side with its network of high net worth and family office partners by co-investing or forming Joint Ventures with proven sponsors and operators. LRE’s core investment principle is to deliver tax efficient current income while generating long term capital appreciation by investing in non-correlated Multifamily real estate assets.

Contact:
eric@lremanagementllc.com
https://www.lremanagementllc.com