Lakewood real estate company takes ownership of Pa. properties, firm Report

Eric Strauss//January 19, 2015//

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Lakewood-based commercial real estate firm Paramount Realty Services has purchased a Pennsylvania company’s real estate assets, according to a report published Monday.Paramount Realty Services, which operates in New Jersey, Pennsylvania, Maryland, Connecticut and Massachusetts, acquired the 30 properties and 2 million square feet of space owned by LMS Commercial Real Estate, according to Lancaster Online. LMS is based in Lancaster and has offices in York.

Terms of the sale were not disclosed, the report said. While Paramount will manage LMS, that firm will continue to manage the properties.

Paramount’s Maurice and Lee Zekeria are now owners and partners of LMS, along with the firm’s founders, Joseph R. Deerin and Donna Deerin Ward. According to Lancaster Online, the Deerin siblings started LMS in 1991.

“We are looking forward to integrating LMS Commercial Real Estate’s experience and regional presence with the strength of the Paramount Realty Team,” Deerin and Ward said in a prepared statement.

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