Baltimore, 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 78,716-square-foot office building located at 401 East Fayette Street in Baltimore, Md. from Alex Brown Realty, Inc. The acquisition was made on behalf of Hampshire Partners Fund VII portfolio, Hampshire's recently launched $350 million institutional real estate investment fund.
The eight-story building is fully leased to the City of Baltimore and the Municipal Employees Credit Union of Baltimore, Inc. City divisions housed at the property include the Mayor's Office of Information Technology, the Baltimore City Department of Finance, the Baltimore City Fire Department, and the Bureau of Accounting and Payroll Services.
"401 East Fayette Street provided us with the opportunity to increase our return for our investors making it a highly ideal investment," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. "This acquisition strengthens our presence within the growing submarkets of Maryland."
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.