South Hackensack, NJ (PRWEB) September 4, 2008
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 a 107,730-square-foot industrial building located at 490 Huyler Street in South Hackensack, N.J. from Huyler Realty, LLC. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire's $350 million institutional real estate investment fund.
Situated on over five acres, the property is an ideal location for industrial users offering close proximity to New York City, Routes 80 and 46 and The New Jersey Turnpike.
"This property fits right into our Fund's value-add strategy, which makes it an ideal investment for us," said Todd Anderson, Senior Investment Manager of The Hampshire Companies. "We look to implement a capital improvement program at the building, which will allow us to maximize the return to our investors."
Stuart Alpert of Keller Realty 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 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.