The Hampshire Partners Fund VI Acquires 8 Sylvan Way in Parsippany

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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 8 Sylvan Way in Parsippany, NJ, a 3-story, 97,000 square foot headquarters-quality office building on 15 acres within New JerseyÂ?s premier suburban office market. The acquisition, valued at approximately $7.6 million, was made through Hampshire Partners Fund VI.

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 8 Sylvan Way in Parsippany, NJ, a 3-story, 97,000 square foot headquarters-quality office building on 15 acres within New Jersey’s premier suburban office market. The acquisition, valued at approximately $7.6 million, was made through Hampshire Partners Fund VI, a commingled, discretionary value-added real estate investment fund managed by Hampshire.

8 Sylvan Way is strategically and conveniently located just off of Interstate 287, two miles south of I-80, and bordered by US Route 202 and NJ Route 10. It is presently the home of The Chubb Institute, a computer training academy.

“We became aware of this opportunity through a long-term relationship we have with the building’s previous owner, who was an investor with Hampshire in other transactions, and who wanted to sell the leasehold,” said Norman A. Feinstein, Executive Vice President of the Hampshire Companies. “At the same time, we became aware of Chubb’s desire to sell the land as excess real estate inventory, allowing us to put together a transaction that benefited all principals, and should provide a substantial upside for our investors.”

“Our vision is to significantly modernize the property’s appearance and reposition it in the marketplace as a single tenant headquarters or operations facility,” added Feinstein. “We are actively seeking out well-located facilities such as this one that are attractive to, or currently under lease to, investment-grade tenants, with the goal of adding value so that our investors realize significant returns.”

Hampshire Partners Fund VI is capitalized at $235 million of equity. 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. The Fund is currently very active in seeking additional acquisitions throughout its targeted markets.

“With this acquisition, Hampshire Partners Fund VI is now roughly 43% invested,” said Feinstein, who noted that, with the target leverage set at 60% to 65%, the Fund has targeted an additional $300 million of acquisitions over the next 24 months.

“We remain in an extremely competitive position relative to our competitors, in that we have discretionary capital at our fingertips that allows us to quickly commit and close on opportunistic real estate investments in our core markets,” continued Feinstein.

The Hampshire Companies is noted for its strategic vision and superior execution. “We have built our firm on the belief that real estate is both an art as well as a science,” said James E. Hanson II, President and Chief Executive Officer of The Hampshire Companies. “Our strategic vision – the ‘art,’ so to speak, allows us to seek out superior investment opportunities for our funds, and to visualize opportunities where others see only challenges. The ‘science’ is revealed in our ability and resources to execute on our strategic vision faster and with better results than most other real estate firms.”

The Hampshire Companies is a full-service, private real estate investment fund manager based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments in order to consistently outperform the market. Additional information on The Hampshire Companies and its funds is available online at http://www.hampshireco.com.

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John Lonsdorf
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