Lakeside Group Acquires Class A Multifamily Asset in Oakland
Lakeside Group has acquired 100 Grand, a 243-unit Class-A multifamily tower in Oakland’s Northlake District.
The district includes 20 city blocks and a dense concentration of Oakland’s key assets, comprising more than 45% of its Class-A office space, over 2,600 apartment units and one of the city's most vibrant retail corridors.
Northlake is considered a model for how private investment can work in collaboration with local government and the community to drive positive outcomes through place-based investment.
A privately funded effort in partnership with the City of Oakland and the Uptown Downtown Business Improvement District was formed to enhance the community, improve public safety, re-activate the area as an engaging, 24/7 neighborhood with events and programming and boost local businesses.
“100 Grand presented us a rare opportunity to acquire a recent vintage, high-rise construction building in Downtown Oakland,” Isaac Abid, founder and managing partner of Lakeside Group, told GlobeSt.com.
“We saw clear value-creation opportunities through a thoughtful repositioning of the lobby, amenities, and units, along with the reintroduction of on-site operations. Its location at the heart of the Northlake District positions it as a cornerstone in a broader placemaking effort to catalyze Downtown Oakland’s revitalization.”
The JLL Capital Market’s Sales and Advisory team, led by Matt Kroger, Ryan Wagner, Brandon Geraldo and Fatai Alashe, facilitated the deal, which was financed by JLL’s Debt Team, consisting of Jordan Angel and Matt Cimino.
Lakeside separately manages 12 buildings in Downtown Oakland acquired during Abid’s time as a partner at HP Investors, where he managed its Oakland office between 2014 and 2023.
Lakeside, founded last year, originally agreed to buy 180 Grand, a 278,000 SF Class-A office building via a distressed note sale in September 2024 as its first acquisition.
It has executed over 15 new and renewal leases since taking title to the project via a deed in lieu last November.
Source: GlobeSt/ALM