A trio of Los Angeles commercial real estate executives formed a new firm for real estate-based investments.
Led by principal Leslie Lundin, LBG Realty Advisors
plans to raise $250m in equity by the end of the year for a fund that will be invested from 2010 to 2013.
The firm’s investments will focus on acquiring debt backed by distressed retail, multifamily, office and industrial assets, as well as purchasing retail properties and making joint venture investments in the western United States.
“In 2010 to 2013, there will be a historic opportunity to own class A and B cash flowing properties at significant discounts to replacement cost with relatively high equity yields,” Lundin said in a statement. “These are among the safest investment vehicles going into an inflationary market.”
Lundin was formerly senior vice president and national director of originations at Inland Mortgage Capital Corporation
, a national investment firm based in Oak Brook, Illinois. Doug Beiswenger and David Goldman, co-owners of the Los Angeles-based retail developer Allied Retail Partners
, will join Lundin as principals at LBG.
With Lundin at the helm, LBG is one of few woman-owned investment firms in the country, and the three principals each bring an average of 20 years of real estate experience to the firm.
Write to Austin Kilgore