Lightstone's A1.il Corporate Credit Rating Reaffirmed by Moody's

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Jun 08, 2017, 12:02 ET

NEW YORK, June 8, 2017 /PRNewswire/ -- Lightstone Enterprises Limited, an affiliate of Lightstone, a privately-held real estate company founded by David Lichtenstein, announced that on May 14, 2017, Moody's Israeli subsidiary Midroog Ltd. reaffirmed A1.il, its highest rating, with a stable outlook.

Lightstone Enterprises Limited has now grown to approximately $1.7 billion of total assets with a diversified portfolio of real estate holdings, including their recently completed 365 Bond, a highly acclaimed and recently completed luxury residential project located in Gowanus, Brooklyn. Through various issuances, Lightstone Enterprise Limited has raised in excess of $244 million in proceeds from unsecured corporate bonds, which are listed and traded on the Tel Aviv Stock Exchange, or TASE.

"Moody's reaffirmation of our A1.il rating demonstrates the underlying strength of Lightstone Enterprises Limited resulting from its strong and growing portfolio of income producing properties," said David Lichtenstein, Chairman and CEO of Lightstone. "As always, we remain committed to prudently managing our balanced growth in order for us to sustain our success."

About Lightstone

Lightstone is one of the most highly-regarded and diversified private real estate companies in the United States. Operating in all sectors of the real estate market, Lightstone's $2 billion portfolio (in 26 states) currently includes over 6 million square feet of office, retail and industrial commercial properties, 11,000 residential units and 3,800 hotel keys. It also owns over 12,000 land lots across the country. Headquartered in New York City, Lightstone continues to growits local presence with $2.5 billion worth of projects currently under development in the residential and hospitality sectors.

Contact:
Chris Bastardi
(212) 729-2495
[email protected]

SOURCE Lightstone