Steven Spinola Joins the Board Of Directors of Lightstone’s Public, Non-Traded REIT
New York, NY, (August 4, 2015) – Today, The Lightstone Group announced that Steven Spinola, President Emeritus of the Real Estate Board of New York (“REBNY”) has accepted an invitation to join as an independent director on the Board of Directors of Lightstone Real Estate Income Trust Inc.(LREIT).
About Steven Spinola
Steven Spinola is the longest-serving REBNY President, presiding over the organization’s growth from 4,000 members in 1986 to more than 16,000 members today. He is widely recognized as the most influential and well-informed advocate for the city’s real estate industry and New York’s status as a competitive and business-friendly locale that consistently attracts global investment. Steve retired in 2015 and currently serves as President Emeritus.
Crain’s New York Business has included Mr. Spinola in its list of the 100 Most Influential New Yorkers, describing him as the “authoritative public voice, lobbyist and conscience” of the industry he represents. He has also been regularly named to the top 50 of the New York Observer/Commercial Observer’s Top 100 Most Powerful People in Real Estate. [i]
“We are pleased that Steven has joined the board of our non-traded, public REIT. His integrity coupled with his vast experience in New York City real estate, provides us a tremendous resource offering keen real estate industry expertise,” said David Lichtenstein, Chairman and CEO of Lightstone and the REIT.
About Lightstone Real Estate Income Trust Inc.
Lightstone Real Estate Income Trust Inc. is a public, non-traded REIT sponsored by Lightstone that offers shareholders an opportunity to invest in a diversified portfolio of real estate assets.
Lightstone is one of the most highly-regarded and diversified real estate companies in the United States. Since 1988, founder David Lichtenstein has grown Lightstone to one of the largest privately-held real estate companies in the country, with holdings in 21 states. Operating in all sectors of the real estate market, Lightstone’s $2 billion portfolio currently includes over 6 million square feet of office, retail and industrial commercial properties, 10,500 residential units and 3,200 hotel keys. It also owns over 12,000 land lots across the country. Headquartered in New York City, Lightstone continues to grow its local presence with $1.7 billion worth of projects currently under development in the residential and hospitality sectors.
All statements contained in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words “may,” “will,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or variations thereof. These statements are based on LREIT’s current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. Investors are cautioned not to place undue reliance on any forward looking statements.