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Waltham, MA-based Saracen Properties purchased the 172,813-square-foot office building in partnership with investment firm Cadre, which is headquartered in New York City.
Bronx Borough President Ruben Diaz Jr. reports that a grand opening is scheduled today for the 167-unit MLK Plaza affordable housing project being developed by Radson Development in the Mott Haven section of the borough.
The name Lakeside correlates to a high asset value but that doesn't mean changing the name of an apartment building to Lakeside will create more value.
“The building of a female-led service line of this caliber is a first in the Philadelphia Region for any commercial real estate firm,” says Naveen Jaggi, president of Retail Advisory Services and Capital Markets at JLL.
The private equity firm sold the Class B multifamily assets to Fairfield Properties and FCP a week after selling a $1.1 billion portfolio of MD and VA apartments to the Kushner Companies.