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289:, Extended Stay America emerged from bankruptcy in October 2010. A year after the bankruptcy, Blackstone was sued by creditors of Extended Stay America alleging that Blackstone "skimmed" US$ 2.1 billion off of the sale to Lightstone and knew that the amount of debt would have been unsustainable for the hotel chain; Blackstone settled the lawsuit in June 2013 for US$ 10 million.
217:, which allowed Lightstone to raise money from outside investors for the first time. The non-traded Lightstone Value Plus REIT invested in office, retail, and other commercial properties, and by the end of 2009, was fully invested in a total of 30 properties. By the end of 2011, Lightstone Value Plus I was the 18th largest non-traded U.S. REIT.
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The company's portfolio of real estate properties spans 20 U.S. states, and includes more than 11,000 multifamily units and approximately 20 million square feet of commercial space in the office, industrial, hotel, and retail sectors. The company has more than 570 employees, and is headquartered in
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In 2019, The
Lightstone Group, a real estate investment management business, is gambling on inexpensive New York City hotel developments. The company has launched a Moxy Hotels catering chain to the business sliver and will operate two more shortly, the Moxy Lower East Side and Moxy Williamsburg.
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In the summer of 2010, the company offered second, non-traded REIT, Lightstone Value Plus II, committing capital to the hospitality, retail, multi-family, and commercial segments. The
Lightstone Group committed 10% of the capital raised by the REIT. By December 2011, LVPII had invested in several
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is a privately held real estate investment company which owns and operates a diversified portfolio of multifamily, office, industrial, hotel, and retail properties. Lightstone has invested directly in individual real estate assets and in real estate operating companies. The company was founded by
205:. Beacon Management is a Lightstone subsidiary, which manages the company's residential apartment business. Baltimore, Maryland-based Paragon Outlets is an affiliate of Lightstone, and manages the company's retail portfolio.
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for US$ 8 billion. The deal, financed with US$ 7 billion of debt, was one of several multibillion-dollar hotel and casino sales made that year. On June 15, 2009, Extended Stay
America filed for
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Extended Stay America through a bankruptcy auction for US$ 3.93 billion. After its successful
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431:"The Lightstone Group Closes $ 8 Billion Acquisition of Extended Stay Hotels From The Blackstone"
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decimated leisure and business travel, Extended Stay faced shortages in
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417:"LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II INC - FORM 10-K"
339:"David W Lichtenstein, Lightstone Group LLC: Profile and Biography"
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In July 2010, an investment consortium made up of
Blackstone,
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The
Lightstone Group acquired Extended Stay Hotels (now trading as
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365:"Big Real Estate Firm Thrives by Buying Struggling Properties"
537:"Blackstone settles Extended Stay lawsuit for $ 10 million"
386:"LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST, INC"
270:, it was able to continue operating rather than to face
511:"US judge backs Extended Stay's reorganization plan"
453:"Lightstone to buy Extended Stay Hotels for $ 8 bln"
433:(Press release). The Blackstone Group. Jun 12, 2007
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485:"Debt-strapped Extended Stay files for bankruptcy"
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605:Real estate companies of the United States
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620:Real estate companies established in 1988
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404:Lightstone Plus REIT II Starts Operations
615:1988 establishments in the United States
266:by Lightstone two years before. Through
225:Boston hotel, Saxon Hall Rego Park, and
610:1988 establishments in New York (state)
390:U.S. Securities and Exchange Commission
315:"David Lichtenstein | Lightstone Group"
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561:Brown, Mariah (29 October 2019).
483:Nadgir, Santosh (Jun 15, 2009).
509:Emery, Chelsea (Jul 20, 2010).
362:Chittum, Ryan (July 20, 2005).
229:Metairie hotel in New Orleans.
268:debtor-in-possession financing
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625:Companies established in 1988
215:real estate investment trust
293:Affordable hotel investment
75:; 36 years ago
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535:Hals, Tom (Jun 20, 2013).
221:properties, including the
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181:with regional offices in
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402:Property Funds World, "
371:The Wall Street Journal
158:www.lightstonegroup.com
319:The Real Deal New York
46:Privately-held company
283:Centerbridge Partners
239:Extended Stay America
243:The Blackstone Group
233:Extended Stay Hotels
166:The Lightstone Group
28:The Lightstone Group
145:Number of employees
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92:David Lichtenstein
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254:. After the
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98:Headquarters
42:Company type
272:liquidation
109:Area served
56:Real estate
599:Categories
406:," 4/10/09
348:2021-01-05
324:2021-01-05
302:References
248:bankruptcy
227:TownePlace
187:New Jersey
183:California
126:California
114:New Jersey
260:liquidity
173:in 1988.
199:Michigan
195:Illinois
191:Maryland
149:Over 570
138:New York
134:Michigan
122:Illinois
118:Maryland
52:Industry
567:Globest
546:Dec 20,
541:Reuters
520:Dec 20,
515:Reuters
494:Dec 20,
489:Reuters
465:Dec 18,
458:Reuters
437:Dec 18,
154:Website
88:Founder
78: (
70:Founded
281:, and
572:1 May
574:2020
548:2015
522:2015
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467:2015
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201:and
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