iCrowdNewswire Jan 13, 2021 11:05 AM ET
Lion Real Estate Group, LLC (“LREG”), a real estate investment and asset management firm focused on acquiring value-add and opportunistic multifamily and creative office properties, today announced the relocation of its corporate headquarters from Los Angeles to Dallas, Texas. The firm has taken space at 3811 Turtle Creek Blvd., less than five miles from Dallas’ Main Street District, and will retain its Los Angeles office to support West Coast operations.
“The decision to relocate our corporate headquarters to Dallas aligns with our strategy of acquiring desirable multifamily assets outside of the urban core, both here in Texas and in other high-growth cities across the Sunbelt and Southeast,” said Jeff Weller, Co-Founder and Managing Principal of LREG. “We also feel that the move will help us expand our network of family offices and High Net Worth individuals that are seeing the type of bespoke, long-term real estate investment opportunities that we offer on a one-off basis and via our Lion Funds.”
“We are proactively on the lookout for attractive multi-family housing properties in areas with attractive economic prospects, extensive amenities, and convenient access to a mix of urban centers and major freeways in strong growth markets,” said Mory Barak, Co-Founder and Managing Principal of LREG. “Having a physical presence in Dallas-Fort Worth–Arlington checks many of these boxes and will improve our ability to secure direct deals on attractive terms with strong potential rates of return.”
Texas is already a key location for LREG, which has a national portfolio of 27 properties exceeding $900 million in estimated value as of December 29, 2020. The firm owns five residential properties in the Lone Star State, including Embry Apartments (2210 Marsh Lane), a 151-unit multifamily property in Carrollton, 13 miles northwest of downtown Dallas. As of August 2020, Dallas-Fort Worth–Arlington is one of the nation’s 12 largest metropolitan statistical areas (U.S. Bureau of Labor Statistics).
Where feasible, LREG’s investment strategy also includes financing customized renovation projects to improve property values, tenant living experiences and the portfolio’s overall performance. The firm, for example, entered the greater Atlanta market in September by acquiring two Gwinnett County apartment complexes for a combined $83 million, a deal that also included a $6.73 million three-year renovation plan to improve each site’s cap rate.
About Lion Real Estate Group
Lion Real Estate Group (‘Lion’) is a real estate investment and asset management firm founded in 2007 by Jeff Weller and Mory Barak and headquartered in Dallas, Texas. With an estimated $900 million in assets under management, Lion focuses on the acquisition of value-add and opportunistic multifamily and creative office properties by leveraging its principals’ experience to create value for investors through renovation, repositioning, better management and optimum capitalization of its properties. Lion has participated in real estate transactions collectively exceeding $1.5 billion. The firm currently owns and operates 5,065 multifamily units and three office properties, located in the Dallas, Los Angeles, Nashville, Denver, Durham, Austin, Atlanta, and Salt Lake City areas. For more information, visit www.lionreg.com.
Mickey Mandelbaum, Prosek Partners
Aidan O’Connor, Prosek Partners
Mickey Mandelbaum, Prosek Partners