Invest in stable commercial real estate assets that provide asset
preservation and current income with the potential for long-term growth. The focus on assets is long-term.
Three product types, as set forth below, with the main focus on industrial and multi-family properties:
Industrial/Distribution – a) Primary focus on
distribution buildings that are in-fill (i.e. near or inside of Rte 128
in Greater Boston) or near major highways and interchanges in the
Greater Boston market. Buildings with 24’ clear height should generally
have no more than 10% office space and should be sub-dividable.
Building depths generally less than 250’; loading docks of at least one
per 10,000 SF; truck courts greater than 100’ in depth. Size of Individual Investments: Investments are anticipated to be in the range of $3mm to $15mm. Larger investments may be considered if they enhance the goals of the fund.
focus on smaller in-fill buildings with less than 25% office space and
16’ clear height in in-fill locations and along major highway
interchanges. Buildings with depths of less than 200’ and good loading,
with sufficient numbers of loading docks and drive-in doors.
Multi-Family – situated in select urban
sub-markets in New England, including Greater Boston. Buildings that
are structurally sound with first class units, or units that can be
upgraded to compete in the upper end of the residential rental market.
Preference is to own multiple buildings in a relatively small geographic
area in order to take advantage of leasing and management synergies.
Retail – a) Grocer anchored shopping centers with a
strong credit grocery store accounting for at least 60% of the leasable
area, and other credit tenants to approximately 80% of the leasable
area. Key factors for acquisition are dense population density (ideally
100,000 people in a 3-mile radius); strong income levels and stable
b) “Village” retail, which is shop space in the downtowns
of smaller communities or the villages of larger communities, with
strong income levels and population density. Sub-markets for retail
may be in Greater Boston and in and around cities such as Portland, ME,
Burlington, VT, Providence, RI and Hartford, CT.