(PRWEB) October 27, 2004
The Hampshire Companies, a full-service, private real estate investment fund manager with equity in assets valued at over $1 billion, today announced the acquisition of Cheshire Commerce Park in Cheshire, Connecticut. The acquisition was made through Hampshire Partners Fund VI.
Cheshire Commerce Park, located at 611-617 West Johnson Avenue, is a 220,000 square foot flex industrial complex that consists of four separate buildings and sits on approximately 19 acres. With superior access to Interstates 691, 84, and 91, the property is truly an ideal distribution location. The transaction was valued at approximately $7.1 million. Steven Inglese and Tim Fegan out of CBREÂs New Haven office represented the seller in the transaction.
ÂThis acquisition is in keeping with the overall strategy of The Hampshire Companies and adds to our already substantial presence in the prestigious suburban Connecticut market,Â noted Norman A. Feinstein, Senior Vice President of the Hampshire Family of Funds. ÂThese are quality buildings with the potential to produce substantial income for our investors. To achieve maximum return, we will effectively and efficiently manage the facility and work very aggressively to lease the existing vacancy.Â
Launched in December 2003, Hampshire Partners Fund VI, which is HampshireÂs sixth real estate investment fund, recently completed its capitalization at $235 million of equity. The goal of the Fund is to deliver superior, above-market returns to its investors through the acquisition, repositioning and operation of investment-grade properties. The focus of investment for this value-add fund is on industrial, retail and suburban office product located in the growth corridors of the Northeast and Mid-Atlantic. Including leverage, the Fund will be acquiring approximately $600 million of real estate over the next 3 years. The Fund is currently actively seeking additional acquisitions throughout its targeted markets.
The Hampshire Companies is a full-service, private real estate investment fund manager based in Morristown, New Jersey. The company currently owns and manages a portfolio comprising more than 15 million square feet of office, retail and industrial space primarily in the Northeastern United States valued in excess of $1 billion. With over 80 years of experience in the industry, The Hampshire Companies maintains a firm focus on its mission to create and enhance value through sound investments in real estate, and consistently realizing returns that exceed industry standards. Additional information on The Hampshire Companies and its funds is available online at http://www.hampshireco.com.
Media Contact: Jason Ledder, R&J Group, (973) 331-1070. Jledder@randjgroup.com
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