Bruce Schanzer's New Role at Lightstone REIT V
In an exciting development for the real estate investment community, Lightstone Real Estate Investment Trust (REIT) V has appointed Bruce Schanzer to its Board of Directors. Schanzer, a seasoned veteran in real estate investment and management, is set to contribute significant insights and strategic oversight to the company.
The Strategic Contribution of Bruce Schanzer
Welcoming a Seasoned Expert
Mitchell Hochberg, Chairman of Lightstone REIT V, expressed enthusiasm about Schanzer's appointment, stating, "We are thrilled to welcome Bruce to the Board of Directors. His extensive industry knowledge and hands-on experience managing REITs to deliver strong returns will enhance our investment strategies." With a collaborative approach, Hochberg and Schanzer aim to strengthen the company's performance in a competitive market.
Professional Background of Bruce Schanzer
Bruce Schanzer currently holds the position of Chairman and Chief Investment Officer at Erez Asset Management, LLC, which focuses on small-cap REIT investments. Before establishing Erez in 2022, he played a vital role as President, CEO, and Director at Cedar Realty Trust. His leadership transformed Cedar into a standout performer in the FTSE NAREIT Shopping Center Index over an 11-year tenure.
Lightstone REIT V’s Outstanding Performance
Recently, it was reported that Lightstone Value Plus REIT V has achieved the top spot in the five-year performance rankings for Lifecycle REITs. This distinction, highlighted by a respected quarterly investment publication, signifies the REIT's commitment to delivering consistent results amidst challenges in the non-listed REIT sector.
A History of Strategic Investments
Founded primarily to acquire and operate commercial real estate, Lightstone Value PLUS REIT V has consistently focused on purchasing assets with significant potential for capital appreciation. This includes properties in need of development or repositioning, those located in rapidly growing markets, and opportunities presented by sellers facing time-sensitive conditions. The REIT has diversified its portfolio through a mix of commercial properties, including retail, industrial, office, and mixed-use developments.
About Lightstone
Lightstone, established by David Lichtenstein, stands as one of the most diversified privately held real estate companies in the U.S. With a robust presence across 26 states, it develops, manages, and invests in various real estate sectors, including residential and hospitality. Currently, Lightstone manages a vast portfolio worth over $12 billion, encompassing an impressive array of more than 15 million square feet of commercial space and thousands of residential units.
Frequently Asked Questions
What is the role of Bruce Schanzer at Lightstone REIT V?
Bruce Schanzer has been appointed to the Board of Directors, bringing strategic insights and extensive experience in real estate investment.
What is Lightstone REIT V known for?
Lightstone REIT V is recognized for its exceptional performance in the non-listed REIT sector and has recently ranked first in five-year performance for Lifecycle REITs.
What is the focus of Lightstone's investments?
Lightstone typically invests in commercial real estate with potential for capital appreciation, including properties in need of redevelopment or repositioning.
How does Bruce Schanzer contribute to Lightstone?
His background in managing successful REITs enables him to provide valuable expertise and enhance strategic direction as part of the Board.
What kind of properties does Lightstone manage?
Lightstone manages a diverse portfolio including industrial, hospitality, retail, and residential properties, demonstrating their broad investment approach in the real estate market.
