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The Hampshire 2001 Fund Announces Property Acquisitions
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Added: 01/13/2004
Type: Summary
Viewed: 773 time(s)
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The Hampshire 2001 Fund Announces Property Acquisitions
The Hampshire Companies’ Hampshire 2001 Fund, LLC, a self-managed private real estate investment fund and a part of the Hampshire family of funds, has announced the acquisition of four commercial facilities in three states, with an aggregate value in excess of $10 million, according to fund President Norman A. Feinstein.
In New Jersey, the Fund purchased the Vira manufacturing facility in Perth Amboy. The Vira manufacturing facility is comprised of approximately 254,750 square feet of industrial space, conveniently located in proximity to the New Jersey Turnpike, Garden State Parkway, and Routes 287, 1 and 9. The Schultz Organization was instrumental in effecting the transaction.
Also in New Jersey, the Fund purchased a 76,745 square foot industrial building on Pee Kay Drive in Clifton, New Jersey, in a sale lease back transaction. Located just off of Route 3 and the Garden State Parkway, the facility offers a superb southern Passaic County location.
In Coconut Creek, Florida, The Hampshire 2001 Fund acquired a 10,908 square foot retail property, currently 100% leased to Eckerd Drug Store. Centrally located in the busy retail corridor of this Fort Lauderdale suburb, the property is an out parcel of a larger shopping center anchored by a Publix grocery store.
The Fund also acquired a 23,942 square foot retail property in Guntersville, Alabama, currently leased in its entirety to a Staples Office Supply Store.
The Hampshire 2001 Fund, LLC, is a private placement investment fund that invests primarily in or acquires commercial real estate and related investments. The Fund’s goal is to deliver superior, above-market returns to its investors through the acquisition and management of investment-grade properties throughout the United States.
“These four acquisitions illustrate the core strategy of The Hampshire 2001 Fund, namely to acquire quality income producing properties and to efficiently and effectively manage them to achieve maximum return,” noted Feinstein. “We are pleased that both owners and brokers in the commercial real estate community have embraced The Hampshire Funds and have helped us to identify promising acquisitions such as these that should yield substantial returns for our investors.”
The Hampshire Fund 5 is a private real estate investment fund operated by The Hampshire Companies. The Hampshire Companies, led by its Chairman, Jon F. Hanson, is a third-generation, full-service real estate organization with over 80 years of experience and a mission to create and enhance value from investments in real estate opportunities. The Hampshire Companies' philosophy is rooted in the belief that a steady, conservative investment outlook will allow the company to succeed regardless of underlying economic conditions. Being cautiously opportunistic, the firm consistently realizes returns higher than industry standards by creating and capitalizing on opportunities untapped by the market. The company operates a diversified national portfolio of properties totaling over 14.7 million square feet. Additional information on The Hampshire Companies and its funds is available online at www.hampshireco.com
Contact:
Jason Ledder
R&J Group
(973) 331-1070
(973) 331-1077 (fax)
jledder@RandJgroup.com
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