Early Life and Founding of Lerner Enterprises
Annette Lerner, born in the Washington D.C. area, is the co-founder of Lerner Enterprises. In 1952, she lent her husband, Ted Lerner, $250 to start a real estate company. This marked the beginning of Lerner Enterprises, which would become one of the largest real estate owners in the Washington, D.C. metropolitan area.
Rise to Success in Real Estate
Under the leadership of Ted Lerner, Lerner Enterprises grew significantly, developing a diverse portfolio of commercial, retail, residential, and hospitality properties. The company’s success is attributed to its vision and innovation in the real estate market. Annette's involvement and support were crucial in the company's initial growth and sustained success.
Ownership of the Washington Nationals
The Lerner family expanded their business interests by purchasing the Washington Nationals baseball team in 2006. Ted Lerner passed control of the team to his son, Mark Lerner, in 2018. The family's ownership of the Nationals further solidified their presence and influence in the Washington, D.C. area.
Philanthropy
The Annette M. and Theodore N. Lerner Family Foundation is the primary vehicle for the Lerners' philanthropic activities. The foundation supports various causes, with a focus on health care, education, and Jewish organizations. Notable beneficiaries include Children's National Hospital, George Washington University, and Hebrew University in Jerusalem.