Saxum Real Estate Launches New Value-Add Fund
December 12, 2016 —Saxum Real Estate, a privately-held real estate investment and development company led by Managing Principals, Anthony Rinaldi and Christopher Johnson has launched its first fund, the Saxum Adamas Fund I, LP.
Based out of Parsippany, NJ, Saxum Real Estate is a privately-held real estate investment and development company that serves as owner, operator, and developer of all assets in its portfolio. Aligning with its strategic partner Hollister Construction Services, Saxum is a dynamic vertically integrated platform that maximizes returns by providing in-house due diligence, legal, property management, construction management, leasing, and capital markets services.
With approximately $75 million in buying power over the next two years, the Saxum Adamas Fund I will target value-add opportunities located in affluent, transit-oriented, main street markets throughout the Tri-State Area.
“Over the last eight years there has been tremendous growth in transit-oriented communities, however most of the development within these markets has been focused on the multi-family asset class. Today’s users are looking for 24-7 lifestyle communities, therefore they require more than just housing to meet their needs. Our focus is on the opportunity we see in repositioning existing office and retail assets located in these affluent, downtown communities. Our goal is to create the best-in-class product within highly sought after communities, bringing Soho to the suburbs.” stated Anthony Rinaldi, Managing Principal.
Saxum has recently executed their strategy at the Lincoln Building located in downtown Ridgewood, NJ, where it has delivered premier boutique office and retail space that is significantly outperforming the market. This unique property combines a historic boutique loft style with modern design and functionality.
The Lincoln Building 5th Floor Teanat Suite at the Lincoln Building
The Saxum Adamas Fund I completed its first acquisition at the beginning of December, acquiring 55 Broad Street, an iconic marble and granite office building located in downtown Red Bank, NJ. The landmark asset was built for First National Bank in 1914 and fully renovated for Smith Barney in 1998. Saxum plans to reposition the historic asset by investing significant capital into fully renovating the building interior to deliver best-in-class office space that highlights the historic features of the building while providing tenants with modern work space that today’s users require. “Red Bank is an incredibly vibrant community that offers tenants an amenity-rich work environment with its blend of retail, restaurants, professionals and arts space. We look forward to restoring one of Red Bank’s iconic buildings and are eager to see its unique transformation,” stated Anthony Rinaldi, Managing Principal.
55 Broad Street, Red Bank
With additional acquisitions in the pipeline, Saxum is looking forward to an active 2017. “The experience, innovation, and creativity within our company is second to none and will be the key to the company’s growth in a highly competitive industry,” stated Christopher Johnson, Managing Principal. Joining Managing Principals Anthony Rinaldi and Christopher Johnson, Saxum’s management team is also comprised of Chad DeBolt, Director of Investments; Sean Gilbert, Director of Acquisitions; and Michael Ochs, Esq., General Counsel.
For more information about Saxum Real Estate, please contact email@example.com or by phone at (973)947-0050.
About Saxum Real Estate
Saxum Real Estate is a privately held real estate investment and development company that specializes in identifying and acquiring assets located in transit-oriented markets within the Tri-State New York Area. Saxum builds its success on the ability to identify, acquire and execute unique real estate strategies that maximize asset value. Saxum focuses on areas in which it can leverage its superior market knowledge and local relationships in order to identify and create asset value in any economic cycle. Its team is comprised of highly skilled real estate professionals with extensive experience as investors in real estate.