Annapolis, Md. (PRWEB) December 7, 2007
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 acquisition of a 72,382-square-foot retail/office building located at 2510 Riva Road in Annapolis, Md. The acquisition was made on behalf of Hampshire Partners Fund VII portfolio, Hampshire's recently launched $350 million institutional real estate investment fund.
The building is fully leased to Verizon Wireless, a leader in broadband and wireless communications. 2510 Riva Road offers excellent visibility from Route 50 and is positioned along a well-developed commercial corridor that provides easy local access to I-301 and Routes 450 and 665.
"Maintaining a high caliber tenant such as Verizon Wireless upon acquisition of 2510 Riva Road will prove to be a strategic investment for our investors," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. "With the property's excellent accessibility and the diverse tenant base that Annapolis is experiencing, the area is expected to continue to experience tremendous growth."
About Hampshire Partners Fund VII
Hampshire Partners Fund VII is a commingled, discretionary value-added real estate investment fund. The goal of Hampshire Partners Fund VII is to deliver superior, above-market returns to its institutional investors through the acquisition, repositioning and operation of investment-grade properties in attractive locations. The focus of investment for this value-add fund is on industrial, retail and suburban office products located in the growth corridors of the Northeast and Mid-Atlantic.
About The Hampshire Companies
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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