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Castle Lanterra Properties Kicks Off Educational Tenant Scholarship Program

| January 8, 2016 | 0 Comments
Elie Rider, founder and CEO

Elie Rider, founder and CEO

Castle Lanterra Properties, LLC
One Executive Blvd; Suite 204
Suffern, NY 10901

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Media Contact: Karen Ravensbergen / (201) 796-7788 / @carylcomm

Initiative Reflects Company’s Strong Commitment to Residents’ Quality of Life

SUFFERN, N.Y., January 8, 2016 – Castle Lanterra Properties (CLP) has launched an academic scholarship program to provide opportunities for its tenants at properties throughout the east, south and mid-western U.S., announced Elie Rieder, founder and CEO of the privately-held real estate company. The Castle Lanterra Properties Scholarship Program will be offered to residents and their families within the company’s 3,000+-unit multifamily portfolio.

Castle Lanterra Properties specializes in identifying investment opportunities in multifamily properties. The firm acquires, improves, repositions and manages a portfolio of properties across the Northeast, Mid-Atlantic and Southern U.S. Since its inception in 2009, the firm has acquired $850 million of assets.

“Philanthropy has always been a vital part of our business philosophy,” said Rieder, “and we are pleased to be able to give back to the residents of our communities with this meaningful program.” Education has always been an important cause to the family.

“The quality of life of our residents remains a very high priority, as always, and we are pleased to be able to reward the loyalty of residents with this opportunity,” he said. “It is our desire for our residents to feel proud of where they live.”

The scholarship program is being offered at Harbor Pointe in Bayonne, N.J.; Stonegate in Austin, Texas; Watergate Pointe in Annapolis, Md.; 222 Saratoga in Baltimore; Midpointe in Chicago; and Heights at Skyland in Tuscaloosa, Ala. The program will be managed by Scholarship Management Services.

“We’re working closely with property managers at each of the six properties,” explained Jim Brady, vice president of property management and operations at Castle Lanterra. “Our regional property managers are enthusiastic and very knowledgeable about their residents. They have expressed great interest in the scholarship program, and are excited to bring it to tenants.”

“This opportunity is amazing,” said Paul Medawar of Alliance Residential Co. and Business Manager at Harbor Pointe in Bayonne, N.J. “We are so fortunate to be working with Castle Lanterra Properties.”

Castle Lanterra tenants who are eligible include high school seniors, graduates and post-secondary undergraduates who plan to enroll in full-time undergraduate study at an accredited two- or four-year college, university, or vocational-technical school for the entire 2016-2017 academic year. The company will award $5,000 for the top scholarship recipient and two additional $1,000 awards.

The program is designed to recognize students with strong academic performance who demonstrate leadership and participate in both school and community activities. Work experience, career and educational goals, and any unusual personal or family circumstances are also considered.

“We chose to have students write an essay covering some issue of ‘personal, local, national or international’ concern. The goal is to encourage self-expression and consideration of the world today and their role in the community,” Rieder said.

The program will launch Monday, January 11 with an application deadline of March 1, 2016.

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