Riverhead, NY (PRWEB) December 17, 2006
The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1.5 billion, has announced the disposition of the 108,286-square-foot Staples Plaza located on Route 58 in Riverhead, NY, to 1099 Royal, LLC. The sale was made on behalf of The Hampshire Generational Fund, one of the firm's private equity real estate investment funds tailored to high net worth investors.
Staples Plaza features a new parking lot and façade as well as upgraded common areas. Tenants at the property include Harrow's Store and Staples Office Supercenter.
"After completely re-stabilizing the property through long term-leases and upgrades to the building we were able to sell the property at a favorable market rate generating an excellent return for our investors," said Norman A. Feinstein, Executive Vice President of The Hampshire Companies.
The Hampshire Generational Fund, LLC, is a commingled, discretionary real estate investment fund. The goal of the Fund is to deliver superior, above-market returns to its investors through the acquisition and operation of industrial, retail and office product as well as an investor in other real estate funds.
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.