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Investor comes clean on wins and loses at NYU Schack capital markets class

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Elie Rieder of Castle Lanterra Properties (CLP), offered his investment insight to a Real Estate Capital Markets class at New York University (NYU) recently.

The class, taught by Adjunct Professor Constantine “Tino” Korologos, is part of NYU’s Schack Institute of Real Estate’s Master of Science, Finance and Investment program.

“This class deals with capital markets and deal structuring, and I was pleased to be able to interact with the real estate investment industry’s leaders of tomorrow,” said Rieder, founder and CEO of the New York-based CLP. “I offered my insight on our firm’s recent transactions, focusing on deal metrics and investment overviews, followed by a question-and-answer session in which we discussed everything from CMBS loans, to preferred equity and creative ways to structure deals.”

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Rieder’s presentation focused on such properties as 222 Saratoga in Baltimore; Watergate Pointe in Annapolis, Md.; Stonegate Apartments and Villas Tech Ridge in Austin, Tex.; Harbor Pointe in Bayonne, N.J.; Heights at Skyland in Tuscaloosa, Ala.; River Park in Raritan, N.J.; and Trantor Place in Staten Island, N.Y.

For each, he provided an overview, insight on the investment opportunity, the business plan and initial performance. And for Trantor Place (a fully realized deal), he recounted exit returns.

“I invited him to share the practical perspective of equity investors and how they access the capital markets,” said Korologos, who also serves as managing director of Situs, a diversified real estate organization.

“He was very generous with his time — what was initially to be a one-hour presentation continued for more than two hours.

“One of the highlights of the discussion was his candor in sharing not only his ‘wins,’ but also telling the students ‘what I did wrong and how I learned from it,” said Korologos.

“For the students, that really optimizes the learning experience. It’s all about integrity and reputation, and those are the kinds of things students in a program like this need to hear.”