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ANDOVER, MA-A New Jersey-based real estate firm company that recently received an infusion of funding acquired its first asset in this area with its purchase of the Shattuck Office Center here on 138 River Road for $9.2 million.

Advance Realty Group, which currently owns and operates 4.5 million sf of office and industrial properties, recently received a $300 million investment from Rothschild Realty Inc., a member of the Rothschild Group, which made the investment through its Five Arrows Realty Securities III LLC investment fund. The investment will allow the company to compete for larger properties over its five year span. In that time, the company reportedly plans to invest the money in properties in the Boston and Washington D.C. markets. A third of the investment will be put into local properties.

Advance Realty was not available by presstime but Greg Senkevitch, the company’s chief operating officer, is quoted as saying, “…we’re going to be looking very aggressively in the Boston market.”

This purchase of Shattuck Office Park from WP Commercial LLP was being planned before the Rothschild investment. WP Commercial bought the 62,700-sf, three-story, Class A office building for seven million dolllars nearly three years ago.

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