X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

[IMGCAP(1)]LOS ANGELES-Commercial real estate industry veterans Leslie Lundin, Doug Beiswenger and David Goldman have formed a new firm called LBG Realty that will buy distressed debt and retail properties and will make joint venture equity investments in the Western US. LBG is in the process of raising $250 million in equity for its new high-yield real estate opportunity fund, which is scheduled to close in late 2009 for investing in 2010 to 2013.

[IMGCAP(2)]Lundin was formerly SVP and national director of originations for Inland Mortgage Capital Corp.; Beiswenger and Goldman were principals of Allied Retail Partners LLC. LBG’s founders, who average 20 years in the industry, have experience in all facets of real estate, including finance, investments, development, operations and retail leasing.

[IMGCAP(3)]Lundin says that the year 2010 to 2013 will present “a historic opportunity to own class A and class B cash-flowing properties at significant discounts to replacement cost with relatively high equity yields.” She describes these as “among the safest investment vehicles going into an inflationary market.”

Lundin started Inland Mortgage Capital Corp.’s national opportunistic debt and equity loan program, which she ran from 1995 to 2008. She left Inland in late 2008 to form LBG with Beiswenger and Goldman.

Among other retail developments and real estate ventures, Allied is involved in a development partnership with Red Mountain Retail Group in such deals as El Portal, a 500,000-square-foot regional and entertainment shopping center in South Gate; Nordhoff Plaza, a 260,000-square-foot community shopping center in Northridge and Bel Mare, a 56,000-square-foot specialty retail center in Newport Beach.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.