Formed in 2012, Chestnut Realty Partners invests in high
quality real estate assets in New England. Located in Springfield, MA,
the fund focuses on investments that will provide long-term,
stable cash flows.
Goal:
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.
Product:
Three product types, as set forth below, with the main focus on industrial and multi-family properties:
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.
Product:
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.
b) Secondary 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 communities.
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.
