Naples, FL (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 acquired the 85,078-square-foot Mission Hills Shopping Center located at 7550 Mission Hills Drive in Naples, FL, from WBF Naples, LLC and Maxwell Properties. The acquisition, valued at approximately $21 million, 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.
Situated on 19.8 acres, the multi-tenant shopping center is currently 98 percent leased and includes national retail tenants such as Hollywood Video and Subway along with an excellent mixture of regionally and locally known merchants and service providers. Mission Hills Shopping Center is anchored by a 51,000-square-foot Sweetbay Supermarket, a growing and innovative Florida supermarket chain that offers a one-of-a-kind shopping experience where shoppers can find expert service and the finest foods without paying more.
"This acquisition is evidence of Hampshire Companies' commitment to investing in quality properties in geographically desirable areas," said Norman A. Feinstein, Executive Vice President of The Hampshire Companies. "Mission Hills Shopping Center's close proximity to several new housing developments within the area and strong tenant roster will deliver a solid return to our investors."
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.