Morristown, NJ (April 15, 2004) -- The Hampshire Companies reported cumulative acquisition and disposition activity for 2003 in its Hampshire Family of private placement real estate funds with an aggregate value of over $116 million. This level of activity demonstrates Hampshire's aggressive market presence in the Mid-Atlantic and Northeastern regions of the country.
Acquisitions for the combined Hampshire Funds in 2003 totaled 12 properties, primarily retail and industrial, consisting of a total of approximately 817,000 square feet, with an aggregate value in excess of $63 million. During the same period, The Hampshire Funds disposed of 19 properties, again principally retail and industrial, consisting of a total of over 583,000 square feet, with an aggregate value of approximately $61.5 million.
"We are pleased to have had such a productive year for our investors, as evidenced by this activity," noted Fund President Norman A. Feinstein. "For 2004, our goal is to invest an additional $200 million in industrial and retail properties primarily in the Mid-Atlantic and Northeast regions."
The Hampshire Companies operates through commingled, discretionary real estate investment funds. The Funds are value-added, investment vehicles targeting primarily industrial and retail properties. The Hampshire Family of Funds are private placement investment funds controlled by The Hampshire Companies, that invest primarily in or acquire commercial real estate and related investments. The goal of each of The Funds is to deliver superior, above-market returns to its investors through the acquisition, repositioning and management of investment-grade properties.
Highlighting some of the 2003 transactions, The Hampshire 2001 Fund, LLC, a self-managed private real estate investment fund and a part of the Hampshire family of funds, acquired several impressive retail and industrial properties, including 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.
The Hampshire 99 Fund, LLC acquired a majority interest in the 77,500 square foot Atlantis Plywood Corp. industrial building in Quakertown, Pennsylvania, as well as full ownership of a 30,800 square foot retail shopping center in Saratoga, New York.
"These acquisitions illustrate the core strategy of The Hampshire Family of Funds, 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."
"We welcome broker and principal inquiries, and are always ready to investigate promising acquisitions anywhere in the country, but predominantly in our core markets on the East Coast," said Feinstein.
The Hampshire Funds are private real estate investment funds, 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 by calling Feinstein in their Morristown, New Jersey headquarters, or online at www.hampshireco.com.
