In October, Savanna purchased the 18-story, 303,943 square-foot office building at 19 West 44^th Street in Midtown. Deka Immobilien sold the property for $195 million. Referred to as the Berkeley Building, the structure was built in 1917.

Tenants include Forrest Solutions and Kellari Taverna. Savanna plans to renovate the lobby and entrance and to upgrade the building mechanical, electric and plumbing systems, roof, façade, restrooms and halls.

With the planned building improvements, Savanna will launch campaigns to market and lease the buildings as institutional quality asset within their submarkets

NEW YORK CITY—Savanna, a New York City based real estate investment firm, completed its largest fundraise to date. With $591 million of capital, the closing achieved the upper end of its initial target of up to $600 million and is over 30% larger than the prior fund in the firm's value-add series. Investors include public and private pension funds, insurance companies, high net worth family offices, foundations, and wealth management companies from North America, South America and Europe.

The fund will be focused exclusively on investments in the five boroughs of New York City and will be a continuation of the firm's strategy to acquire older properties and add value, repositioning them with capital improvements and leasing efforts.

To date, the fund has invested in two Manhattan properties, 31 West 27^th Street and 19 West 44^th Street.

In July, Savanna purchased the 12-story, 144,500 square-foot office and retail building at 31 West 27^th Street in MoMad for $126 million. The seller was Westbrook Partners. Originally built in 1910, the building tenants include the Stella Adler Acting Studio, the independent film and television company, A24, and architecture and design firm, Stonehill Taylor. Savanna plans to renovate the lobby, retail storefront, building systems, façade, roof and sidewalk vault.

In October, Savanna purchased the 18-story, 303,943 square-foot office building at 19 West 44^th Street in Midtown. Deka Immobilien sold the property for $195 million. Referred to as the Berkeley Building, the structure was built in 1917.

Tenants include Forrest Solutions and Kellari Taverna. Savanna plans to renovate the lobby and entrance and to upgrade the building mechanical, electric and plumbing systems, roof, façade, restrooms and halls.

With the planned building improvements, Savanna will launch campaigns to market and lease the buildings as institutional quality asset within their submarkets