Somerset, NJ (PRWEB) August 17, 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 85,000-square-foot office building located at 19 Schoolhouse Road, Somerset, N.J. from Provident Partners, LLC and Provident Sunnyside NJ, 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 12 acres, the building is home to OFS Fitel LLC, Fjords USA Inc. and Logan Instruments Inc., which will remain in the building under long-term lease agreements. The property is ideally located offering easy access to major area highways including Interstates 287 and 78 as well as Route 22.
"The property's high occupancy rate makes this an ideal addition to our suburban office portfolio," said Todd Anderson, Senior Investment Manager of The Hampshire Companies. "We are confident that this will be an excellent performer for our institutional real estate investment fund."
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.