Billerica, Mass. (PRWEB) August 8, 2008
The Hampshire Companies, a full-service, private real estate investment fund manager with equity in assets valued at more than $2 billion, has announced the acquisition of a 87,200-square-foot industrial building located 159 Rangeway Road in Billerica, Mass., from Billerica Rangeway LLC. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire's $350 million institutional real estate investment fund.
Situated on more than six acres, the building is fully leased to Hyster New England Inc., a full-service material handling company, which will remain in the building under a long-term lease. The property is located just off of U.S. Route 3 and the Treble Cove Road intersection.
"Having Hyster, a quality tenant under a long-term lease agreement made this an excellent investment," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. "Hampshire is committed to making sound investments on behalf of our investors."
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 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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