The Hampshire Partners Fund VI Acquires Two Industrial Properties in Western New York

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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, announced today the acquisition of two manufacturing facilities in Western New York – a 111,893 square foot industrial building at 277 Walden Avenue in Cheektowaga, NY and an 85,135 square foot industrial building at 91 North Street in Arcade, NY. The acquisitions were made on behalf of Hampshire Partners Fund VI, Hampshire’s $235 million institutional value add fund.

The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1 billion, announced today the acquisition of two manufacturing facilities in Western New York – a 111,893 square foot industrial building at 277 Walden Avenue in Cheektowaga, NY and an 85,135 square foot industrial building at 91 North Street in Arcade, NY. The acquisitions were made on behalf of Hampshire Partners Fund VI, Hampshire’s $235 million institutional value add fund.

The Arcade and Cheektowaga properties were purchased from and leased back to API Heat Transfer, one of the largest full service producers of industrial heat exchangers and heat transfer systems in North America. Each of the buildings is situated on a large site with potential for additional expansion or development.

“These properties were very attractive to Hampshire Partners Fund VI because of their potential for long-term yield to the Fund, primarily due to the length of the leases that are in place with the occupying tenant, API Heat Transfer,” stated Norman A. Feinstein, Executive Vice President of The Hampshire Companies. “Our ownership goal is to provide efficient, high-quality property management along with selected facility upgrades in order to increase the value of these holdings over the long term.”

Robert H. Brennan, Senior Vice President of CB Richard Ellis’s Investment Sales Division in Oak Brook, Illinois represented both the seller and Hampshire Partners Fund VI in this transaction.

Hampshire Partners Fund VI’s aim is to achieve superior, above-market returns for its investors through the acquisition, repositioning and operation of investment-grade properties. The investment focus 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 acquisition of the API Heat Transfer manufacturing properties harmonizes perfectly with our investment strategy, which is to actively seek out well-located, attractive facilities, and, through superior management, enhance their value for our investment portfolio,” 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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John Lonsdorf