Burger, Levinson Launch New Investment Venture
The former CEO of Silverstein Properties is partnering with L&L Holding Co.'s chief executive to form the new company.
The former CEO of Silverstein Properties, Marty Burger, joined forces with L&L Holding Co. CEO David Levinson to create L&L Infinite, a new company pursuing development, acquisitions and debt strategies throughout the U.S. Burger will head the company as CEO and President.
The new firm will focus on development across the New York City metro area, as well as South Florida, while its financing and investment approach will seek opportunities across the entire nation.
This isn’t the first company Burger created after his 14-year tenure as Silverstein’s CEO. He also debuted Infinite Global Real Estate Partners and Infinite Global Capital Partners. IGCP, a debt platform co-founded with former Greystone Commercial Capital President and CIO Scott Chisholm, will operate as an affiliate of L&L Infinite.
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IGCP launched just last year and is already on track to close more than $1 billion in transactions, including the origination of a construction loan for a multifamily-to-condo conversion at 809 Madison Ave. in Manhattan, according to The Real Deal.
The lender was also involved in the dealings at 180 Water St., also in Manhattan, which underwent a $345 million recapitalization in July, Commercial Observer reported. What’s more, IGCP provided debt for a 20-asset multifamily deal in San Francisco.
Levinson will continue to serve as Chairman and CEO of L&L Holding Co., while also being appointed as Chairman at L&L Infinite. L&L Holding owns a portfolio of more than 6.5 million square feet of residential and commercial space.
L&L Holding owns Wynwood Plaza, a 509-unit luxury property that debuted just last year in Miami. The developer received a $215 million construction loan from Bank OZK in 2023, according to Yardi Matrix data, and one year later topped out the project.
New multifamily companies keep on sprouting
Burger is the latest example of real estate magnates who launch their own companies after decades serving at prominent firms. Last year, former TruAmerica Co-CIO Matt Ferrari launched PXV Multifamily, planning to invest up to $2 billion over a three-year window. He had been with TruAmerica for nearly a decade.
Similarly, GID’s expansion into multifamily development last year involved tapping former Mill Creek Residential executive Sean Caldwell to steer the new platform, dubbed GID Residential Partners. Caldwell had also served at Trammell Crow.
