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Lightstone Launches Development REIT

NEW YORK CITY—Becoming the firm's fourth public, non-traded REIT, the new instrument was created in the wake of traditional lenders cutting back on development financing.

By Rayna Katz | Updated on August 25, 2015

NEW YORK CITY—Lightstone has debuted a $300 million development finance REIT. Lightstone Real Estate Income Trust is the firm’s fourth public, non-traded REIT and intends to invest the proceeds of the offering to originate, acquire and manage a diverse portfolio of real estate related investments that finance development and redevelopment projects. Its objective is preservation of capital while providing monthly income to stockholders.

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