2024 Ones to Watch - Innovators in CRE: Elie Rieder, Castle Lanterra

Elie Rieder is the founder and CEO of Castle Lanterra and has been an active real estate investor, owner and manager since 1998. He has acquired over 20,000 multifamily units and invested across various sectors, including residential, office, hospitality, and retail. Specializing in value-add acquisitions, Elie enhances property performance through operational and capital improvements, increasing tenant satisfaction and cash flow. He has successfully turned around underperforming properties by improving management, optimizing spaces, and enhancing amenities. He is also an equity partner with Fieldstone Properties, a multifamily investor in the eastern U.S. Outside of real estate, he is dedicated to community service, volunteering with organizations focused on food, shelter, and education for underprivileged families locally and globally.

Innovative Solution: In 2023, in response to the volatility in the capital markets and slowdown in lending, we launched a credit and special situations platform, targeting floating-rate loans and preferred equity investments to offer innovative capital solutions for acquisitions, refinancing, and recapitalizations. Our approach prioritizes multifamily lending backed by high-quality properties in strong markets, working with well-capitalized borrowers and detailed business plans to enhance returns while preserving capital. By investing in well-located assets at competitive terms, whether through debt or equity, we ensure sustainable growth and maximize operating cash flow, adapting to evolving market conditions while delivering solid risk-adjusted returns for our investors.

Innovative Outlook: There are tremendous tailwinds for the continued growth of financial engineering tools for the multifamily tenant. For example, Flex is a product that offers a solution by aligning rent payments with tenants’ income schedules, addressing the mismatch between biweekly paychecks and monthly rent deadlines. The business is dedicated to smoothing this income vs. payment stream. BILT is another technology company that is rapidly expanding by enabling tenants to pay rent with credit cards at no extra cost, while also earning rewards points. These innovative financial services are paving the way for a smoother transition from outdated systems to more modern, tenant-friendly solutions.

“Over the three decades, Elie Rieder has established himself as a leader in commercial real estate, setting the standard for excellence in the industry. With a forward-thinking approach and extensive experience navigating various market cycles, Elie recently introduced a CRE credit strategy. This initiative aims to support owners, investors, and developers by providing mezzanine financing, preferred equity, and senior bridge capital in response to the unprecedented surge in interest rates.” - Jimmy Lappas, Great Ink Communications.