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The deal for the portfolio secures the Boston-based firm gross proceeds of approximately $113.5 million. The properties are 100% leased to seven tenants. The portfolio was acquired by Exeter Property Group of Conshohocken, PA.
The company announced earlier this year its plan to sell all 26 of its American Golf-owned properties and expects to generate nearly $175 million in capital from the sales.
“Our focus within these zones will be the development of multi-family, industrial and self-storage assets along the I-95 corridor throughout the northeast,” says James Hanson II of The Hampshire Companies
The Greater Boston Association of Realtors reported that 1,214 single-family detached homes were sold in metropolitan Boston, which set a new record for sales for the month and was a 4.9% increase on the 1,157 homes sold in November 2017.