{"id":14943,"date":"2025-06-16T12:42:48","date_gmt":"2025-06-16T17:42:48","guid":{"rendered":"https:\/\/1reason.com\/re\/hanover-co-closes-125m-fund-to-acquire-development-sites\/14943\/"},"modified":"2025-06-17T07:42:48","modified_gmt":"2025-06-17T12:42:48","slug":"hanover-co-closes-125m-fund-to-acquire-development-sites","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/hanover-co-closes-125m-fund-to-acquire-development-sites\/14943\/","title":{"rendered":"Hanover Co. Closes $125M Fund to Acquire Development Sites"},"content":{"rendered":"
HOF can close acquisitions quickly, with or without entitlements in place, and offers flexible deal structures to accommodate sellers.<\/p>\n

\u201cFor site owners, lenders, and intermediaries, HOF can offer quick-close, all-cash solutions with a trusted development sponsor,\u201d said Brandt Bowden, CEO of Hanover.<\/p>\n

Rather than acquiring stabilized assets, HOF targets early-stage opportunities that can be executed through Hanover\u2019s vertically integrated development platform.<\/p>\n

\u201cToday\u2019s real estate environment is seeing a massive demographic shift and accelerated obsolescence in office, all against a backdrop of capital scarcity,\u201d Bowden added. \u201cHOF is built to take on the risk to reposition assets, while providing immediate liquidity to sellers\u2014often before entitlements are in place.\u201d<\/p>\n

Led by Bowden and Hanover Managing Director Drew Willson, the fund was created to address capital dislocation and the growing need for pre-development risk capital.<\/p>\n

HOF has already made three acquisitions: an industrial development site in York, Pennsylvania, and two multifamily development sites in San Jose, California.<\/p>\n

With its capital base in place, HOF is actively pursuing acquisitions across Hanover\u2019s national footprint, which includes Sun Belt, West Coast, Northeast, and Mid-Atlantic markets.<\/p>\n

Media Contact
<\/strong>Samantha Havenstrite
Analyst, Hanover Opportunities Fund
shavenstrite@hanoverco.com
<\/a>713-580-1377<\/p>\n

\"\"<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\n

Targeting land and obsolete commercial structures for multifamily and industrial redevelopment<\/p>\n

HOUSTON, May 28, 2025 (GLOBE NEWSWIRE) — Hanover Co. has closed its Hanover Opportunities Fund (\u201cHOF\u201d) at $125 million in capital commitments and is actively acquiring land and underutilized commercial properties\u2014such as vacant buildings and distressed office assets\u2014for redevelopment into multifamily or industrial projects.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/14943"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=14943"}],"version-history":[{"count":2,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/14943\/revisions"}],"predecessor-version":[{"id":14973,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/14943\/revisions\/14973"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=14943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=14943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=14943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}