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ASC changes name to The Lightstone Group. (Energy Resources & Management).

David Lichtenstein, chairman, ASC, announced the company's name change to The Lightstone Group. Headquartered in Lakewood, N.J., The Lightstone Group is one of the largest, privately-held, diversified real estate companies in the country. Lichtenstein founded the company in 1988.

The Lightstone Group currently owns/manages a portfolio of 15,000 multi-family units, in addition to three million SF of office, industrial and retail space.

The company, with a portfolio that spans 16 states, employs nearly 400 professionals. The Lightstone Group is actively pursuing new acquisitions throughout the country. Recent acquisitions include eight industrial buildings in the southeast from Liberty Property Trust, an industrial portfolio from The Rouse Company in Baltimore, Maryland and a retail portfolio from Acadia Realty Trust.

David Lichtenstein commented, "Our name change to The Lightstone Group reflects our company's new national branding program. As we continue to grow throughout the country, our strategy is to create a unified image of Lightstone as a successful operator of a myriad of property types. Our ultimate goal is to ensure that when you think of Lightstone, you recognize this name represents the highest standards of quality, integrity and excellence."

What differentiates The Lightstone Group in the marketplace is the company's ability to acquire a variety of complex and challenging real estate projects including multi-family, industrial and retail.

The Lightstone Group has built a proven track record as a turnaround specialist in all sectors by acquiring underutilized, obsolete projects and turning them into successful, high-performing assets. From urban markets to suburban locations, The Lightstone Group's portfolio is one of the most diversified in the industry.

"We are value buyers," stated Angela Mirizzi-Olsen, chief investment officer. "At The Lightstone Group, we have built an enviable reputation based on our ability to close any type of real estate transaction in a timely manner, despite its complexity. No matter the location, product type or inherent challenges, we pride ourselves on being able to get the deal done."
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Article Details
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Oct 2, 2002
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