The Lionstone Group said it has collected about $100 million for its Lionstone U.S. Land Two fund. Lionstone, of Houston, is a private real estate investment firm that plans to raise about $250 million for the pool. A final close is expected in November.
The Lionstone Group, a private real estate investment firm, announced today that it has raised approximately $100 million for its Lionstone U.S. Land Two fund. A final close date is anticipated in November. Lionstone plans to raise approximately $250 million in equity for the fund.
Lionstone’s U.S. Land investment strategy is to invest in large infill land sites in select U.S. cities, hold for capital appreciation, and sell land opportunistically to developers and users.
“We believe investing in infill land is one of the best large-scale real estate investment strategies available today,” said Tom Bacon, a founding partner of Lionstone. “Infill land investing has been a cornerstone of the Lionstone investment platform since our inception. We are enthusiastic about the investment opportunities available in the marketplace today.”
In most cases, Lionstone plans to partner with local operating partners with demonstrated experience sourcing and managing land investments. The target investment size is $10 million or larger.
This marks Lionstone’s second U.S. land fund. The first fund, U.S. Land One, L.P., totaled $75 million in equity from high-net-worth individuals and Lionstone. Raised in 2010, U.S. Land One is fully committed to investments in Denver, Colorado, Austin and Dallas, Texas, Pleasanton, California, Washington, DC, and Charlotte, North Carolina.
Lionstone was formed in 2001 by partners Tom Bacon, Dan Dubrowski and Glenn Lowenstein. The firm serves the interests of real estate capital by performing extensive market research to find unique value for investors and by carefully managing investment risks. Lionstone has more than $2 billion of real estate assets under management. For more information on this fund opportunity, please contact Bryan Sanchez at [email protected]
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