Matthew B. Lester, founder and Chief Executive Officer of Princeton Enterprises, L.L.C., is a lifelong resident of metropolitan Detroit who joined the law firm of Jaffe, Raitt, Heuer & Weiss, P.C., in 1990. Three years later, Mr. Lester left the firm to pursue a career in real estate development and formed Princeton Enterprises to oversee the operation and management of real estate holdings under his control. The beginning of Mr. Lester’s real estate career arose out of a distressed bank loan and the underlying troubled asset. The bank had initiated foreclosure on a borrower and ultimately sold the property to Mr. Lester for $1. In less than two months, Mr. Lester had turned the property around and sold the parcel for $200,000. The success of this transaction was the beginning of Princeton Enterprises, L.L.C., a privately held real estate firm which today is recognized for its excellence in property acquisition, turnaround, management and construction. Over the past seventeen years, Mr. Lester and his various partners have acquired over 100 properties in the Midwest and the Southeast regions, with an aggregate value in excess of $600 million. Mr. Lester specializes in adding value to multifamily properties that are distressed or poorly maintained. Princeton’s success is rooted in its dedication of buying right and making good investment decisions at the point of acquisition. The company creates investment value for its partners through an unwavering focus on performance and results, earning it a national reputation for excellence among its financial partners and other real estate professionals.
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