Hampshire Partners Fund VII Acquires Greit Pax River Office Park in Lexington Park, Md.
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 the seven building 172,000-square-foot Greit Pax River Office Park located in Lexington Park, Md. from Greit Pax River Office Park, LLC. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire's $350 million institutional real estate investment fund.
Lexington Park, Md. (PRWEB) April 19, 2008 -- 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 the seven building 172,000-square-foot Greit Pax River Office Park located in Lexington Park, Md. from Greit Pax River Office Park, LLC. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire's $350 million institutional real estate investment fund.
Comprised of five low-rise office buildings and two office/flex buildings, the office park is approximately 84 percent occupied. The property is situated on over 11 acres and is located one mile from Patuxent River Naval Air Station.
"Following the completion of some minor renovations, we expect the remaining space to lease quickly," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. "The property has an excellent tenant history and offers significant growth potential for additional development opportunities."
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 www.hampshireco.com.
# # #
|
