Castle Lanterra Properties Launches Second Annual Academic Scholarship Program

2/21/17


Founder and CEO Elie Rieder presents Harbor Pointe resident Yolanda Toby with 2016 scholarship award.

Castle Lanterra Properties (CLP) announces its second annual academic scholarship program, providing educational opportunities for tenants and their families at 14 of the firm’s multifamily properties.

The Castle Lanterra Properties Scholarship Program is offered to residents within the company’s 8,300-plus-unit multifamily portfolio. In New Jersey, the program is open to residents of Harbor Pointe in Bayonne, and River Park in Raritan.

“As a company, one of our primary goals is to enhance quality of life for our residents”, said Elie Rieder, founder and CEO of the privately held real estate company. “CLP has a strong culture of philanthropy and the Castle Lanterra Properties Scholarship Program will directly benefit our tenants, who are a key to our success as a company.”

Last year’s top award recipient was Yolanda Toby, a resident of River Park studying at Howard University. “It’s a great honor and a great opportunity,” she said, “and it is wonderful that Castle Lanterra Properties is doing this for their residents.”

“This scholarship program demonstrates our commitment to the positive environments at our properties,” Rieder added. “We are helping tenants succeed by backing them as they advance their education and kick-start their careers.”

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 2017-2018 academic year. The company will award four scholarships.

“CLP held its first scholarship program in 2016, which garnered strong interest from a very impressive pool of applicants living in our communities,” said CLP Managing Director, Austin Alexander. “For 2017, CLP is adding an additional scholarship to the program and expanding it to other properties within our growing portfolio. I’m sure River Park and Harbor Pointe have no shortage of qualified candidates.”

The scholarship 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.

Additionally, students are required to write an essay covering an 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.

The application deadline is April 1, 2017 and additional details are available at https://www.scholarsapply.org/castlelanterra.

About Castle Lanterra Properties

Formed in 2009, Castle Lanterra Properties is a privately held real estate investment company focused on the acquisition and management of quality income producing multifamily properties within strategic growth markets throughout the United States. Through a rigorous value-enhancement program that includes thoughtful renovations, operational improvements and ancillary income development, CLP aims to reposition each asset with the goal of maximizing NOI, elevating its competitive position within the market, and providing attractive risk-adjusted returns for its investment partners. Castle Lanterra Properties currently owns and manages a portfolio comprised of 8,300 units and a value in excess of $1.5 billion.

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