SUFFERN, NY, January 4, 2022 / PRNewswire / – Castle Lanterra Properties (CLP), a New YorkNational real estate investment company, announced that the company had experienced exceptional activity in 2021, carrying out transactions totaling more than half a billion dollars. The company has also expanded its activities with several important new hires that have paved the way for its future growth.

In 2021, CLP completed a total of ten transactions, six acquisitions and four divestitures, in six US states. In addition, CLP has three asset disposals totaling 600 units with large non-refundable deposits that are expected to close in early 2022. The total volume of CPL transactions for 2021 was $ 740 million compared to the 2020s $ 211 million and 2019 $ 411.6 million. The disposals enabled CLP to capitalize on the significant added value created by the implementation of its added value strategy.

CLP has also strengthened its management team with the addition of high-profile hires, including acquisition veteran Dwight “Arne” Arnesen and senior housing and healthcare investment expert. Franck Petit.

We have achieved exponential growth in 2021 with a number of major acquisitions despite the challenges the industry has faced as a result of the global pandemic, ”said the CEO of CLP. Elie Rieder. We also laid the groundwork for the future with the addition of Arne and Frank. CLP is well positioned to achieve the next level of success as we continue to execute our value improvement strategy to acquire well-located, high-quality multi-family communities while identifying strategic opportunities in the sectors of industry, senior housing and offices in growing markets. ”

The 2021 acquisitions included:

  • Broadstone McKinney, a newly constructed 255 unit apartment complex in McKinney, Texas
  • The Hempstead portfolio, two transit-focused Class A multi-family properties totaling 316 units in Long island, New York
  • A two-tenant industrial distribution facility totaling 270,000 square feet located at Lansing, Michigan
  • A community of apartments of 263 units in Atlanta, Georgia
  • A single tenant distribution warehouse totaling 275,000 square feet located at Lansing, Michigan

The 2021 provisions included:

  • Stratus Townhomes, a rental community of 280 units in Westminster, Colorado
  • Watergate Pointe, an apartment community of 608 units in Annapolis, Maryland
  • Sage au 1825, an apartment community of 455 units in Austin, Texas
  • Arbors at Smyrna, an apartment community of 340 units located in Smyrna, Georgia

About the properties of Castle Lanterra
Formed in 2009 by Elie Rieder, Castle Lanterra Properties (CLP) is a private real estate investment firm focused on repositioning multi-family communities as well as acquiring quality properties, new construction and emerging investment opportunities in other types of properties. ‘active in strategic growth markets across the United States. Mr. Rieder has bought and sold tens of thousands of residential properties across United States and is also responsible for the management of its family office, which is diversified across asset classes. With a focus on intrinsic value and downside protection with a focus on achieving stable cash flow by implementing physical and operational improvements, CLP aims to maximize NOI and deliver returns risk-adjusted attractive for its investment partners. CLP currently owns and manages over 6,600 units in 25 properties across United States.

Press contact:
Major Ink Communications – (212) 741-2977
Eric Gerard [email protected]
Jimmy lappas [email protected]

SOURCE Château Lanterra Properties

Source link