Westwood, N.J. (PRWEB) June 22, 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 a 33,000-square-foot medical office building located at 400 Old Hook Road in Westwood, N.J. from Life Key Ventures, Inc. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire's $350 million institutional real estate investment fund.
Situated on 1.23 acres, the property is strategically located less than a mile from the former Pascack Valley Hospital, which is currently being converted into a medical school, and offers easy access to the Garden State Parkway and NJ Transit lines. Upon acquisition the building was 80% occupied.
"The Hampshire Companies remains committed to providing quality office space to the medical community in premier locations," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. "With current high occupancy and the soon-to-be open Touro University College of Medicine, this is an excellent addition to our portfolio."
Cushman & Wakefield represented The Hampshire Companies in the transaction.
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.
R&J Public Relations
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