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Invest Alongside a Manager with a 40-Year Track Record
Private real estate has long been a cornerstone of institutional portfolios, but individual investors have often had limited access to the asset class - or have had to invest through pooled funds and intermediaries.
Lightstone DIRECT offers a different approach. Accredited investors can invest directly in select real estate opportunities alongside Lightstone, a vertically integrated owner/operator with more than four decades of experience and a $12 billion real estate portfolio.
We invest 20% or more of the equity in every offering, aligning our interests with yours from day one. Our in-house team oversees acquisitions, asset management, and investment execution, with property operations managed by Lightstone and, where appropriate, experienced third-party operators.
No blind funds. No intermediaries. Just direct partnership.
Accredited Investors only. $100k minimum investment.
This communication is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any such offer or solicitation will be made exclusively through the definitive offering documents. All investments involve risk of loss, including the potential loss of principal. Past performance is not a guarantee of future results. Any targeted returns or projections are forward-looking statements, are based on current assumptions, and are not guarantees of future performance. Actual results may differ materially.
HUGHES COMMERCIAL
COMMERCIAL REAL ESTATE INTELLIGENCE FOR INVESTORS, OWNERS & OPERATORS
Market perspective. Practical tools. Better decisions.
THE BIG PICTURE
For many operating companies, real estate is a major expense and potentially a major asset. Buying can create control and equity, but ownership is not automatically cheaper or better than leasing.
Compare the full cost and flexibility of ownership with the business's capital needs. A down payment tied up in property cannot also fund inventory, hiring, equipment, or expansion. Real estate should support the operating plan, not compete with it.
MARKET INTELLIGENCE
Compare the business case before comparing monthly payments
Total occupancy cost: Include debt service, taxes, insurance, repairs, capital reserves, and transaction costs.
Operating flexibility: Will the company need more or less space, a new location, or a different configuration?
Capital and liquidity: What cash remains after closing for working capital and unexpected needs?
Property suitability: Does the building fit current operations and likely future requirements?
Exit and contingency: If the business changes, can the property be leased or sold without a major distraction or loss?
Financing, tax treatment, and ownership structure are fact-specific. Review the analysis with qualified legal, tax, and lending professionals.
THE DEAL DESK
Buy the property only when it strengthens the operating plan.
A building that looks attractive as an investment may still be a poor fit if it restricts the company's ability to move, hire, or deploy cash. Conversely, a well-located property may provide valuable long-term control.
THE OPERATOR'S PLAYBOOK
Separate the operating-company decision from the property-investment decision.
The move: Prepare a lease-versus-buy analysis over a realistic hold period.
Why it matters: It reveals trade-offs between occupancy cost, equity, flexibility, and liquidity.
Put it to work: Model expansion and contraction scenarios, then review the plan with your accountant, lender, and real estate advisor.
TOOLS & RESOURCES
Use a decision worksheet to compare upfront capital, annual occupancy costs, flexibility, and alternative uses for cash.
Resource of the edition: Hughes Commercial Resources brings together practical commercial real estate guides and investor tools.
BUILD YOUR CRE BUSINESS
Owner-users should evaluate real estate as both a workplace and a capital allocation decision. The strongest answer fits the company's operating horizon and financial capacity.
ONE QUESTION TO CONSIDER
For an owner-user, what matters most: control, long-term equity, or operating flexibility?
Reply and share your perspective. Reader questions may inform future editions.
CONTACT HUGHES COMMERCIAL
Contact Hughes Commercial: For questions, partnership inquiries, or topic suggestions, email [email protected].
Hughes Commercial
Commercial real estate intelligence for investors, owners, operators, and ambitious CRE professionals.
Educational information only; not investment, legal, tax, or lending advice. Verify facts and consult qualified professionals before making decisions.