Longacre Real Estate

Institutional underwriting.
Disciplined execution.

Longacre acquires overlooked multifamily and mixed-use assets below institutional scale, where entry basis is mispriced. The firm builds value through repositioning and disciplined execution.

Investment Approach →

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01 / Firm About Longacre

The opportunity others overlook in markets where demand endures.

Investment Profile

Multifamily &
Mixed-Use

U.S. Secondary
& Tertiary Markets

Value-Add &
Opportunistic

Long-Term
Ownership

Longacre owns and operates multifamily and mixed-use assets in the size band that sits between local operators and institutional funds.

These situations often include transitional assets, operationally mispriced properties, or assets that require repositioning or a change in use.

The opportunity sits in a size range that institutional funds usually pass on and that most private buyers can't take on alone. In that space there is less competition and better pricing. Longacre invests only where the underlying market fundamentals are already strong.

In each case the fundamentals are durable and the problems are solvable. Value is created through execution rather than market appreciation.

02 / Strategy Investment Approach

An inefficiency that is structural, not cyclical.

Few buyers can bring the underwriting and operating skill these assets demand.

What We Do

We underwrite to in-place performance, not to a forecast
We treat complexity as an advantage, not a risk
We earn the upside through execution, not market timing
We preserve capital before we pursue return

Pricing Inefficiency

The largest funds cannot deploy efficiently at this size, and most local buyers cannot underwrite it.

Entry Basis

Entry is sized to what the asset produces today, leaving the cost of any future upside to be earned through work rather than paid for at acquisition.

Operational Complexity

Deferred capital, management turnaround, and entitlement risk are obstacles to most buyers but solvable problems to an experienced operator.

Source of Return

The business plan is matched to the asset, whether renovation, adaptive reuse, or redevelopment. Value is realized through delivery, not market movement.

03 / Process Value Creation Sequence

A deliberate path from acquisition through repositioning to stabilization.

STEP 01

Identify & Acquire

Source through direct relationships and disciplined off-market origination. Underwrite for in-place income, structural mispricing, zoning optionality, and a clear path to a more valuable use, from operational improvement through redevelopment.

STEP 02

Reposition to Highest & Best Use

Execute the business plan that brings each asset to its highest and best use, whether unit and amenity renovation, building-wide capital improvement, adaptive reuse, or redevelopment. The plan is guided by what zoning, basis, and demand support.

STEP 03

Optimize Operations

Increase occupancy, reduce controllable expenses, restructure vendor agreements, and align property management incentives with NOI growth, protecting in-place cash flow throughout the repositioning.

STEP 04

Stabilize & Compound

Mark rents to market, lease up newly delivered product, and stabilize the asset. Resulting cash flow and value uplift unlock refinance, recapitalization, or disposition optionality on the firm's timing.

04 / Markets Geographic Focus

Markets selected for supply constraint and in-migration.

Longacre concentrates on secondary and tertiary U.S. metros, entering a market only where the underlying conditions are pronounced and durable. Selection rests on four drivers:

Job Growth

Net In-Migration

Supply Constraint

Diversified Economy

Coverage is disciplined rather than broad. The firm commits only where fundamentals and pricing align, and revisits that judgment as conditions change.

05 / Focus Current Areas of Focus

Where we are focused today.

Workforce & Value-Add Multifamily

Well-located rental housing where rents sit below the cost of new supply and operational improvement drives in-place performance.

Mixed-Use & Residential-Anchored Assets

Mixed-use properties in supply-constrained corridors where residential demand underpins the basis and limits new competition.

Adaptive Reuse & Office-to-Residential

Obsolete commercial and infill product, including office-to-residential conversion, where a change of use is supported by zoning, basis, and demand.

Density & Entitlement Upside

Assets carrying unused density, zoning optionality, or entitlement potential, where adding units or a change of use creates a second path to value.

06 / About The Firm

A principal-led investment firm, built for the long term.

Longacre Real Estate is a private real estate investment firm that acquires, repositions, and operates multifamily and mixed-use assets across select U.S. markets. The firm invests on behalf of families, family offices, and institutions, pairing institutional underwriting standards with the focus and accountability of a principal-led platform.

Longacre is built around a single conviction: that disciplined underwriting, prudent capital structure, and patient ownership compound returns more reliably than market timing. Every investment is underwritten, structured, and overseen against that standard.

Leadership

Alan Oppenheimer

Founder & Principal

Alan has built a career underwriting and executing major real estate transactions at institutional scale, across multifamily, mixed-use, commercial, and hospitality assets, through multiple cycles.

He has led or participated in more than $6 billion of transaction volume, spanning over 200 transactions and 12 million square feet.

Earlier in his career, Alan served as Vice President of Acquisitions and subsequently Vice President of Development at Extell Development Company, one of the nation's most prominent developers. Its portfolio exceeds 25 million square feet and includes Central Park Tower, One57, and One Manhattan Square.

We build a small number of lasting partnerships.

Longacre partners with a small number of families, family offices, and institutions, and holds those relationships for the long term. We look for partners whose interests are aligned with ours and whose horizon matches the way we own. Every relationship begins with a direct introduction to the firm, held in confidence.

Begin a Conversation

Each introduction is read by the firm, and answered when there is a genuine fit.

Longacre works alongside institutional-grade legal, tax, audit, and operating partners. Specific relationships are available upon request.

This website is for informational purposes only and does not constitute an offer to sell or solicitation to buy any securities. Any such offer will be made only by means of confidential offering documents to persons meeting applicable investor qualification standards, including accredited investor and, where applicable, qualified purchaser status.

Longacre Real Estate LLC offers private placement investments pursuant to exemptions under the Securities Act of 1933. Such investments are speculative, illiquid, and involve a high degree of risk including loss of principal. Any forward-looking statements are projections that may prove incorrect.

Representative transactions shown were executed by Alan Oppenheimer prior to founding Longacre and are not Longacre investments. Past performance is not indicative of future results. Market data sourced from CoStar, Northmarq, Matthews REIS, and other public sources as of the date indicated.

Institutional underwriting. Disciplined execution.