Washington, D.C. – January 13, 2015 – (RealEstateRama) — Castle Lanterra Properties (CLP) has launched an academic scholarship program to provide opportunities for its tenants at the company’s residential properties throughout the east, south and midwestern U.S., announced Elie Rieder, founder and CEO of the New York-based, privately-held real estate company.
The Castle Lanterra Properties Scholarship Program will be offered to residents and their families within the company’s 300,000+-unit multifamily portfolio. In Tuscaloosa, the program is open to residents of the recently acquired, 304-unit Heights at Skyland, the company’s initial investment in Alabama’s state capital.
“Philanthropy has always been a vital part of our business philosophy, and we are pleased to give back to the residents of our communities with this meaningful program,” said Rieder. “The quality of life of our residents remains a top priority, and these scholarships enable us to provide some support to hard-working students and their families. It is our desire for our residents to feel proud of where they live.”
“We’re working closely with property managers at each of the properties eligible for this program,” explains Jim Brady, vice president of property management and operations at Castle Lanterra. “Our property manager at Heights at Skyland is enthusiastic and very knowledgeable about the residents and has expressed great interest in the scholarship program.”
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 launched Monday, Jan. 11 with an application deadline of March 1, 2016.
About Castle Lanterra Properties
Castle Lanterra Properties specializes in identifying investment opportunities in multi-family properties. Founded by Elie Rieder, the firm acquires, improves, repositions and manages a portfolio of properties across the Northeast, Mid-Atlantic and Southern U.S., with a proven track record of creating above-market returns for investors. Since its inception in 2009, Castle Lanterra Properties has acquired $850 million of assets comprised of over 3,000 residential units.