Lightstone DIRECT
Lightstone DIRECT is a digital direct-to-investor platform that enables SEC-accredited investors to co-invest alongside The Lightstone Group in institutional-quality multifamily and industrial real estate on a deal-by-deal basis, with a minimum 20% GP co-investment per offering.
- Company typePrivate
- Founded1986
- HeadquartersWest New York, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Lightstone DIRECT does
Lightstone DIRECT is a direct-to-investor digital platform that enables SEC-accredited investors to co-invest alongside The Lightstone Group in institutional-quality multifamily and industrial real estate offerings on a deal-by-deal basis. The platform is built around a proprietary investor dashboard that handles onboarding, accredited-investor verification, capital commitments, and ongoing portfolio monitoring, supported by an in-house Capital Formation team that assigns each investor a dedicated point of contact. Active offerings include the Hidden Lakes Apartments investment — a 384-unit Class B multifamily complex in Grand Rapids, Michigan acquired at a 40% discount to replacement cost — alongside an industrial real estate vertical and an Education Center that distributes the REdirect Podcast and research whitepapers.
Underlying the platform is a vertically integrated operating model inherited from The Lightstone Group, a privately held real estate firm founded in 1986 by David Lichtenstein with a reported $12B+ AUM across multifamily, industrial, and other commercial assets. Lightstone DIRECT applies the same investment committee (chaired by David Lichtenstein and President Mitchell Hochberg) and the same in-house asset management, property management (via subsidiary Beacon Property Management LLC), and capital formation capabilities used by the institutional side, with Lightstone itself co-investing a minimum of 20% equity in every offering. The go-to-market motion is sales-led and content-driven, using whitepapers, webinars, a podcast, and an active social presence across YouTube, LinkedIn, Instagram, X, and TikTok to attract and qualify individual accredited investors, family offices, and licensed financial professionals.
The business model derives revenue from management fees, carried interest, and performance-based compensation tied to investment returns, with minimum investments disclosed per offering (for example, $100,000 for Hidden Lakes Apartments). The company is privately held with no external PE or institutional ownership disclosed, and the DIRECT platform was launched in 2026 as a wholly-owned subsidiary of The Lightstone Group, LLC, a New York-jurisdiction LLC with headquarters in New York City and a legal and compliance office in Lakewood, New Jersey.
Lightstone DIRECT firmographics
Firmographics- Name
- Lightstone DIRECT
- Legal name
- The Lightstone Group, LLC
- Website
- https://lightstonedirect.com
- Company type
- Private
- Founded year
- 1986
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Lightstone DIRECT is a digital direct-to-investor platform that enables SEC-accredited investors to co-invest alongside The Lightstone Group in institutional-quality multifamily and industrial real estate on a deal-by-deal basis, with a minimum 20% GP co-investment per offering.
- Ownership category
- akta.pro rank
Lightstone DIRECT industry classification
Industry- Product category
- Real Estate Investment Platform
- NAICS
- Other Financial Vehicles (52599), Portfolio Management and Investment Advice (523940)
- SIC
- Investors, Nec (6799), Investment Advice (6282)
- akta.pro primary industry
- Co-Investment / Direct Allocation Platforms (alongside FoF) (FSANAGAK)
- akta.pro secondary industries
- Residential Investment Property Brokerage (SFR/Small Multifamily) (BPAJAAAE), Real Estate Funds — Core-Plus (FSANAEAG)
Keywords
Where Lightstone DIRECT is headquartered
LocationHeadquarters
- HQ city
- West New York
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Lightstone DIRECT business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Real Estate Investment Management: Lightstone DIRECT generates revenue through real estate investment management fees, co-investing alongside investors in multifamily and industrial properties. The platform structures investments as joint ventures where Lightstone co-invests at least 20% equity. Revenue is derived from carried interest, management fees, and performance-based compensation tied to investment returns.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | Hidden Lakes Apartments offering - $100,000 minimum investment |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Lightstone DIRECT product offering
Product offeringCore offering
Lightstone DIRECT is a private direct-to-investor digital platform operated by The Lightstone Group that gives accredited investors the ability to co-invest alongside Lightstone's own capital in institutional-quality multifamily and industrial real estate opportunities on a deal-by-deal basis. Each offering is structured as a joint venture with Lightstone contributing a minimum 20% equity stake, and investors access, evaluate, commit to, and manage investments through a self-service online investor dashboard. The current featured offering is the Hidden Lakes Apartments, a 384-unit Class B multifamily value-add property in Grand Rapids, Michigan, with a $100,000 minimum investment.
Product overview
Lightstone DIRECT is a unified private real estate investment platform that provides accredited investors direct access to institutional-quality multifamily and industrial real estate offerings through a single digital environment. The platform centers on deal-by-deal investment opportunities where Lightstone co-invests at least 20% equity, differentiating it from blind fund models. Key offerings include the Hidden Lakes Apartments investment (Class B multifamily), educational resources through the Education Center, The REdirect Podcast series, and whitepapers such as the Multifamily Real Estate in 2026 Whitepaper. The platform enables investors to self-select investments, access due diligence materials, and manage portfolios through a secure investor dashboard.
Differentiator
Problem solved
Functional benefit
Products and services
- Lightstone DIRECT Platform A private investment platform that enables accredited investors to evaluate, commit to, and manage institutional-quality multifamily and industrial real estate co-investments on a deal-by-deal basis alongside The Lightstone Group, with a minimum 20% Lightstone co-investment in every offering and self-service investor dashboard access.
- Hidden Lakes Apartments Investment Offering A 384-unit Class B multifamily value-add apartment complex in Grand Rapids, Michigan, offered as a joint-venture co-investment with a 4-year hold period, $100,000 minimum investment, projected 13% net IRR, 7.3% net average cash-on-cash return, and 1.50x net equity multiple, acquired at a 40% discount to replacement cost and 12% discount to comparable sales with 93% occupancy.
Quantifiable outcome
- 27.6% Net IRR on investments realized since 2004
- +3 more outcomes
Companies that use Lightstone DIRECT
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Lightstone DIRECT technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Lightstone DIRECT partnerships and signals
Strategic signalScale indicators7 records
Recent moves7 records
Expansion highlights5 records
Lightstone DIRECT competitors and assessment
Company assessmentDirect peers
- Fundrise: Large direct-investor real estate platform offering individual investors (non-accredited tiers available) eREITs and interval funds. Comparable in targeting individual investors with online subscription, but Fundrise operates pooled fund products rather than JV co-investments.
- RealtyMogul: Online CRE investing platform offering individual investors both REITs and direct deal-by-deal exposure. Comparable accredited-investor onboarding and direct-to-investor commercial real estate focus.
- EquityMultiple: Direct-to-investor CRE platform offering accredited investors deal-by-deal and fund-style co-investment in commercial real estate. Most directly comparable peer given overlapping HNW target market, online investor dashboard, and overlapping leadership (Lightstone DIRECT CGO Soren Godbersen was previously CGO at EquityMultiple).
- CrowdStreet: Online CRE investing marketplace offering accredited investors direct equity and debt deals across geographies and asset classes. Closely comparable direct-to-investor model with similar minimums, sponsor curation, and educational content emphasis.
- Cadre: Tech-enabled CRE investment platform offering accredited investors curated, sponsor-led co-investment opportunities. Comparable HNW positioning, online underwriting, and direct-to-sponsor deal access model.
- Origin Investments: Direct CRE investment manager offering accredited investors individual property and diversified fund offerings, primarily in multifamily and industrial. Closely comparable asset-class focus (Class B multifamily, industrial) and accredited-investor JV model.
Broad incumbents
- JLL Capital Markets: Global commercial real estate services firm with capital markets, investment sales, and advisory capabilities. Overlaps with Lightstone's institutional CRE deal flow and underwriting functions at the parent level, providing broad market context rather than direct retail-investor competition.
- Marcus & Millichap: Large investment real estate brokerage and capital markets advisor with extensive multifamily and industrial transaction coverage. Comparable to Lightstone's institutional brokerage and capital deployment functions but operates as a third-party intermediary rather than principal investor.
Emerging players
- Roofstock: Marketplace for buying and selling single-family rental properties, including SFR portfolios and turnkey rental investing. Comparable in retail-investor CRE exposure but focused on SFR rather than multifamily/institutional assets.
- Yieldstreet: Alternative investment platform offering individual investors access to private credit, real estate, and other alternatives. Partial overlap as a multi-asset alternative investing platform with real estate as a key vertical, but broader product mix.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Lightstone DIRECT social profiles
Digital presenceLightstone DIRECT financial estimates
Financial estimateRevenue estimate
Valuation estimate
Lightstone DIRECT leadership team
Management profileNumber of profiles
Profiles10 records
Lightstone DIRECT subsidiaries and ownership
Company hierarchySubsidiaries2 records
Lightstone DIRECT funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Lightstone DIRECT M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Lightstone DIRECT
What does Lightstone DIRECT do?
Lightstone DIRECT is a private direct-to-investor digital platform operated by The Lightstone Group that gives accredited investors the ability to co-invest alongside Lightstone's own capital in institutional-quality multifamily and industrial real estate opportunities on a deal-by-deal basis. Each offering is structured as a joint venture with Lightstone contributing a minimum 20% equity stake, and investors access, evaluate, commit to, and manage investments through a self-service online investor dashboard. The current featured offering is the Hidden Lakes Apartments, a 384-unit Class B multifamily value-add property in Grand Rapids, Michigan, with a $100,000 minimum investment.
Is Lightstone DIRECT a public or private company?
Lightstone DIRECT is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Lightstone DIRECT founded?
Lightstone DIRECT was founded in 1986. It employs 51 to 100 people.
Where is Lightstone DIRECT based?
Lightstone DIRECT is headquartered in West New York, United States, in the North America region.
How does Lightstone DIRECT make money?
One revenue line is on record: real Estate Investment Management.
Who are Lightstone DIRECT's main competitors?
Direct peers on record are Fundrise, RealtyMogul, EquityMultiple, CrowdStreet, Cadre and Origin Investments. Broad incumbents are JLL Capital Markets and Marcus & Millichap. Emerging players are Roofstock and Yieldstreet.
Does Lightstone DIRECT have an API?
No public API is recorded for Lightstone DIRECT.
What industry is Lightstone DIRECT in?
Lightstone DIRECT's product category is Real Estate Investment Platform. Its primary akta.pro industry code is FSANAGAK, Co-Investment / Direct Allocation Platforms (alongside FoF), with a secondary code of BPAJAAAE, Residential Investment Property Brokerage (SFR/Small Multifamily). Its NAICS code is 52599 and its SIC code is 6799.