L3 Capital Secures Commitment of up to $300 Million from Almanac Realty Investors

July 9, 2019, Chicago, IL -L3 Capital LLC ("L3 Capital”) announced today that it has entered into an agreement with a fund managed by Almanac Realty Investors, LLC ("Almanac") to provide up to $300 million of growth capital to L3 Capital to continue its value-add investment strategy seeking urban street retail and mixed-use opportunities in Tier 1 "gateway” markets throughout the United States.

Based in Chicago, L3 Capital is a vertically integrated retail-focused real estate company led by Domenic Lanni, Tim Phair, Michael Schreiber, and Matthew Schreiber, all of whom have an average of 20+ years of real estate experience. L3 Capital pursues a value-add investment strategy involving acquisitions, asset management, leasing, repositioning, and development with the goal of constructing a diversified, institutional-quality portfolio of urban retail properties in prime submarkets across the following markets: Boston, Chicago, Los Angeles, Miami, New York City, San Francisco, and Washington DC.

"We are excited to establish this relationship with Almanac and take tremendous pride in our firm partnering with such an accomplished investor”, said Tim Phair, Principal of L3 Capital. "In particular we look forwardto partnering with intelligent capital that will allow us to strategically grow the business.”

"L3 Capital is a highly successful and experienced real estate investment firm with a data-driven growth strategy and a demonstrated ability in creating value in thriving urban retail and mixed-use experiential assets,” said Andrew Silberstein, a Partner at Almanac. "We are pleased to partner with L3 Capital's bestin-class management team and support its next phase of growth.”