NEW YORK, Feb. 20, 2019 /PRNewswire/ –National real estate investor and developer Lightstone today announced that Eugene Rozovsky has been appointed to the position of Senior Vice President of Real Estate Debt Strategies where he will manage Lightstone Capital, the company’s new real estate debt platform.
Prior to joining Lightstone, Mr. Rozovsky served as Vice President of Acquisitions & Asset Management at Madison Realty Capital, leading the team responsible for all debt and equity investment and closing over $2 billion in transactions. Prior to Madison, Mr. Rozovsky held positions at Hudson Realty Capital and Blackstone.
Founded to address the financing inefficiencies and roadblocks many borrowers face in the current debt market, Lightstone Capital provides a reliable source of flexible capital for real estate transactions at a speed faster than traditional lenders.
“Eugene’s experience and industry knowledge will undoubtedly be a huge asset to Lightstone,” said Lightstone President Mitchell Hochberg. “He brings the leadership and insight needed to help us launch and grow Lightstone Capital, and we are thrilled to welcome him to the company.”
Tapping the extensive real estate investment and development knowledge Lightstone and of Mr. Rozovsky, Lightstone Capital specializes in providing first-lien and mezzanine loans for bridge and construction financing projects secured predominately by transitional and near-stabilized real estate assets as well as land. The platform plans to close $500 million of financing within its first year.
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. Lightstone Capital underwrites opportunities with term sheets typically out within 3-5 business days, far more quickly than most present lenders.
To learn more about Lightstone Capital, please visit http://www.lightstonegroup.com/lightstone-capital/
Lightstone, founded by David Lichtenstein, is one of the largest and most diversified privately held real estate companies in the United States. Lightstone is active in 28 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With over 178 existing properties, Lightstone’s over $6 billion portfolio currently includes over 4.5 million square feet of office, retail and industrial commercial properties, over 15,000 residential units, and 4,300 hotel keys. Lightstone also owns over 12,000 land lots across the country.
Headquartered in New York City, Lightstone continues to grow its development portfolio with over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.
Teddy Wilson Simmons
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Feb 20, 2019, 10:06 ET