Fund Management

Investing in the Future

L+M manages discretionary real estate private equity funds with $350 million in committed capital on behalf of institutional investors.

L+M and Citi Community Capital launched the New York Affordable Housing Preservation Fund (NYAH), a real estate private equity fund platform formed to invest in multi-family housing in low-and moderate-income neighborhoods in New York City. L+M continues to also actively invest through GSLM Capital Partners, a venture formed with the Goldman Sachs Urban Investment Group.

Through these investment funds, L+M employs value-add strategies to acquire and develop affordable and mixed-income multifamily housing in the New York City metro area. L+M is able to deliver competitive risk-adjusted returns through a fully integrated team of investment professionals with development, construction, finance and operations expertise. L+M’s fund management platform combines the discipline and successful track record of financially driven real estate investing with a commitment to the creation of high-quality housing and vibrant communities in the New York City area. To date, the L+M fund management group has successfully acquired and/or financed the acquisition or development of over 5,000 multi-family units.

L+M’s fund management platform is currently focused on opportunities in three primary areas:

  • acquisition of existing multi-family assets (e.g. project-based Section 8 buildings, former or current Mitchell-Lama developments, large-scale rent stabilized portfolios, etc.)
  • development of ground-up new construction multifamily and mixed-use projects (e.g. 50/30/20 or 80/20 projects)
  • distressed real estate opportunities (e.g. note-purchases, bridge investments)

Within each of these areas, L+M is generally seeking to invest institutional capital with responsible, well-established operating partners. The target equity investment size on these transactions is $5 to $20 million but can be greater (or lesser) depending on the nature of the opportunity. If you have an interest in partnering with L+M for capital or strategic needs, please feel free to contact Eben Ellertson at 212.600.2922.