Lubert-Adler and Lane Company Form $250M Real Estate Venture in Atlanta

ATLANTA, GA-– Dean Adler, (top right photo) Chairman of Lubert-Adler and George Lane, (top left photo) Chairman and CEO of Lane Company have announced a new multifamily real estate venture.

Lubert-Adler will provide $250 million for the acquisition of multifamily properties primarily in the Southeast and Southwest.

The initial funds will be used for the acquisition, rehabilitation and repositioning of distressed properties, or properties held by distressed sellers.

Lubert-Adler is a real estate private equity firm specializing in redevelopments through joint ventures with local operating partners.

Lubert-Adler and Lane Company have been partners in a number of ventures over ten years, most recently, the acquisition of Solace on Peachtree Apartments (middle right photo) in Atlanta, which is currently being renovated.

Lubert-Adler previously invested in several of Lane Company’s award-winning communities in Atlantic Station, (middle left photo) the live/work/play redevelopment in Midtown Atlanta.

“We are poised to take advantage of a number of opportunities in 2009,” said Lane Company CEO George Lane.

“Our platform allows us to perform due diligence, acquire, renovate and provide strong property and asset management to drive above-market yields on such investments.”

In 2007, Lane Company began actively pursuing acquisitions of “value-add” multifamily properties that need an infusion of capital or are located in recovering markets.

Lane Company currently is supervising the renovation of five such value-add acquisitions located from Baltimore, MD to Austin, Texas.

Lubert-Adler is a real estate investment company co-founded by Ira Lubert (bottom right photo) and Dean Adler in 1997.

The Lubert-Adler investment team consists of experienced professionals with strong backgrounds in real estate acquisition, redevelopment, asset management, distressed restructurings, structured finance, and capital markets.

Lubert-Adler is headquartered in Philadelphia and has offices in New York, Atlanta and Los Angeles.

Lubert-Adler has raised an aggregate of $6.6 billion in investor equity since inception and recently closed fundraising for its sixth fund with $2.5 billion of committed equity, principally from large university endowments.

Lane Company (http://www.lanecompany.com/) is a vertically-integrated, full-service multifamily real estate company.

Its expertise extends to all areas of real estate including apartment and condominium development, investment, property management, construction, asset management and marketing.

With over 30 years experience, Lane Company is recognized as one of the most innovative, efficient and technologically-advanced firms in the multifamily industry. Its goal is to make big things happen by connecting people and communities one home at a time.

Media Contact: Terri Thornton, Thornton Communications, 404-932-4347 terri@territhornton.com