Morristown, NJ (PRWEB) January 30, 2006
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 an 89,900 square foot felx building at 663 East Crescent Avenue in Ramsey, NJ. The acquisition was made on behalf of Hampshire Partners Fund VI.
The 663 East Crescent Avenue property is a fully-leased office, R&D and warehouse facility on approximately 11.78 acres in prestigious Bergen County, New Jersey, strategically and conveniently located just off of Route 17 near I-287 and with easy access to the Garden State Parkway. The property was purchased from and simultaneously leased back to Coperian Corporation, a leading global compounding equipment and systems manufacturer.
“This property was particularly attractive to Hampshire Partners Fund VI because of its superior location in desirable Bergen County and the ability to structure a long-term lease with the occupying tenant,” noted Norman A. Feinstein, Executive Vice President of the Hampshire Companies. “Our vision is to provide superior facility and property management to increase the value of this asset.”
James F. Gunning, Senior Director, David Sherman, Executive Vice President and Nicholas Nemeth, Senior Vice President of CB Richard Ellis’s Saddle Brook office represented Hampshire Partners Fund VI and Coperian Corporation in the transaction.
The goal of Hampshire Partners Fund VI 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. The Fund is currently very active in seeking additional acquisitions throughout its targeted markets.
“The 663 East Crescent Avenue property fits extremely well within our overall acquisition and investment strategy, which is to actively seek out well-located facilities that are attractive to, or currently under lease to, investment-grade tenants, and add value so that our investors realize above market returns,” added Feinstein.
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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