The fund is closed-end, according to Hanson, in that it will only sell fund units to investors until it reaches its cap of $100 million. According to the prospectus, the fund will provide a preferred cash return of 8.4% a year on capital contributions. The primary term is 10 years, and the fund is expected to close by the third quarter of this year.
The Hampshire Cos., led by Hanson, is a third-generation real estate organization that focuses on creating and enhancing value from investments. The company operates a diversified national portfolio of properties totaling more than 11 million sf.
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