  In less than twenty years, The Lightstone Group has grown into one of the largest private owners of real estate in the United States. Founded by David Lichtenstein in 1988, the company currently owns a portfolio of diversified properties in 26 states plus District of Columbia and Puerto Rico, spanning in excess of 12,000 apartments and in excess of 29 million square feet of commercial and retail space. In the last year alone, The Lightstone Group has completed $2 billion in acquisitions since 2004. Through its Prime Retail subsidiary, The Lightstone Group is also one of the largest owners of retail outlet space in the country. This acquisition and subsequent successful turnaround has positioned The Lightstone Group as a nationally recognized expert in repositioning companies.Recently, The Lightstone Group made a significant entrance into the office sector, becoming one of the largest owners in Chicago with the acquisition of Prime Group Realty Trust (PGRT). PGRT owns 4.6 million square feet of primarily Class A office space, including the noted Bank One Center and 77 West Wacker Drive. In addition, The Lightstone Group is the largest shareholder in Park Avenue Funding, LLC (PAF), a real estate investment company that employs an opportunistic approach in the financing of complex real estate transactions. PAF has developed creative non-traditional and bridge-financing programs that are made available to real estate entrepreneurs nationally. The Lightstone Group's newest initiative is Lightstone Value Plus Real Estate Investment Trust, a non-traded public REIT. The target investment for the trust will be residential and commercial real estate properties that will generate immediate cash flow, but also offer upside potential for increased cash flow through operational improvements, asset repositioning and reasonable capital improvements. Any properties that are acquired by the REIT will be managed and operated by The Lightstone Group. The growth of The Lightstone Group is fueled by a passion to achieve excellence in every endeavor. While its growth has been extraordinary, the cornerstone principles of The Lightstone Group have changed very little since its inception. The company is committed to preserving its entrepreneurial culture, to conducting business with unyielding integrity and to making a positive difference in every community it invests in. Employing more than 1,000 professionals, The Lightstone Group maintains its corporate headquarters in New Jersey with regional offices in Chicago, New York, Maryland and Virginia. |
