David Lichtenstein A Real Success in Real Estate

David Lichtenstein is a successful real estate mogul and the chairman of the Lightstone Group. He founded the real estate company back in 1988 and has proved time and time again, that when it comes to real estate, he really knows his stuff.

One of the best decisions David Lichtenstein ever made was to buy prime Outlets in 2003. Many people thought that this was a bad move for him, but in time, he proved that his knowledge and foresight was dead on when he announced that he was selling Prime Outlets to the Simon Property Group Inc. for a massive $700 million dollars. This is a particularly good coup for David Lichtenstein considering that the initial sum of money he paid for Prime Outlets was a mere $115 million in cash.

Prime Outlets is actually one of 22 which are being bought up by the Simon Property Group and the deal is set to be a big relief for David Lichtenstein and the Lightstone Group who will be making around $450 million from the deal even after paying all of their associated fees.

David Lichtenstein’s Success

When David Lichtenstein started out in real estate, he could hardly have guessed that he would be involved in multimillion dollar deals like this. He started out his career by purchasing two homes for $89,000 back in 1986. He used his savings and credit cards to do so. Luckily, he was able to turn a decent profit and from there he made more and more sound investments. This convinced David Lichtenstein that he had what it took to be a success in real estate and he went on to found the Lightstone Group just two short years later.

In their first ten years, the Lightstone Group bought up huge amounts of family properties and were able to make a massive success in real estate, Not one to rest on his laurels, David Lichtenstein always keeps his eye on the latest real estate trends and this helps him to change his business plan and modify the types of properties he invests in, as and when is needed and this helps to ensure his on-going success in the industry.

David Lichtenstein

is making money from one of the best investments he ever made, Prime Outlets Inc.