BERKSHIRE GROUP JOINT VENTURE BREAKS GROUND ON FOXBOROUGH DEVELOPMENT
Continues Strategic Development Investment Strategy in Greater Boston Area
BOSTON, MA — June 2, 2016 —Berkshire Group, in a joint venture with The Hanover Company, announced the groundbreaking in April on Domain Foxborough, a 248-unit apartment community located in Foxborough, Massachusetts. Completion for the development project is slated for late 2017. Once stabilized, the property will be managed by Berkshire Communities, the property management division of Berkshire Group.
“We are excited to execute another joint venture with The Hanover Company,” noted Kel Frazier, Vice President, Multifamily Development Investments, Berkshire Group. “Domain Foxborough fits nicely with our strategy and we are eager to watch the project progress. The development is located in a supply-constrained submarket with significant barriers to entry for future multifamily development. In addition, the site is highly visible and offers great connectivity to the employment nodes within the region.”
Domain Foxborough amenities include a resort-style pool with grilling stations, game room and movie room, dog park, business center and fitness center.
About Berkshire Group
Berkshire Group is a real estate investment management company primarily known for its multifamily investment and operational experience. In addition to deploying capital through equity, debt and development in the multifamily arena, Berkshire invests in opportunistic ventures in other real estate sectors through its Venture Investments group. Over more than four decades, Berkshire’s team of industry leaders has gained a reputation for being able to identify opportunities and effectively manage through various economic environments, establishing a long-term track record of solid performance based on thoughtful, leading edge strategies, and operational experience. The Company has experience in disciplines including acquisitions, portfolio and property management, debt, development and redevelopment. Berkshire, a registered investment advisor, is headquartered in Boston and has offices in Atlanta, New York, Baltimore, Dallas, Houston and San Francisco. As of March 31, 2016, Berkshire Group had approximately $6.3 billion in real estate assets under management. For more information on Berkshire, please visit www.berkshire-group.com.