Hauppauge, N.Y. (PRWEB) January 29, 2009
The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $2 billion, has announced the acquisition of two buildings totaling 52,500 square feet situated on 1.98 acres in Hauppauge, N.Y. from Siemens Energy and Automation. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire's $350 million institutional real estate investment fund.
The properties comprise of a 20,000-square-foot office building located at 155 Plant Avenue and a 32,500-square-foot industrial facility located at 75 Oser Avenue. Both properties are fully leased and are ideally situated near major area highways including Routes 454, 347, and 111.
"This was an excellent investment for us since the properties are positioned in an area that historically has very low vacancy rates," said Todd Anderson, a Principal of The Hampshire Companies. "The opportunity for additional development also made this transaction an attractive investment for 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 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.
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