Lubert-Adler, Lane Co. Form Multifamily Venture

ATLANTA-After more than two decades of an informal relationship between its principals, locally based multifamily real estate firm Lane Co. and Philadelphia-based private equity firm Lubert-Adler have created a formal partnership to form a fund of $250 million. The venture will look to acquire and reposition distressed multifamily properties in the Southeast and Southwest.

“Lubert Adler is the capital provider and Lane Co. will serve as the operating platform,” Eric Hade, general counsel and VP of capital markets with Lubert-Adler, tells GlobeSt.com about the venture. “Principals of this company have been investing together since the ’80s.” Most recently, Lubert-Adler invested in several of Lane Co.’s communities in Atlantic Station, a live/work/play redevelopment in Midtown Atlanta.

“There will be a significant number of opportunities over the course of the next two years that will require quick action and this structure gives us the ability to capitalize on those,” says Hade. The $250-million venture is an initial amount within the fund, he reveals. “We anticipate it will grow larger.”