Hanover Co. has closed its Hanover Opportunities Fund (HOF) with $125 million in capital commitments and is actively acquiring land and underutilized commercial properties, such as vacant buildings and distressed office assets, for redevelopment into multifamily or industrial projects.
HOF can close acquisitions quickly, with or without entitlements in place, and offers flexible deal structures to accommodate sellers. “For site owners, lenders, and intermediaries, HOF can offer quick-close, all-cash solutions with a trusted development sponsor,” said Brandt Bowden, CEO of Hanover.
Rather than acquiring stabilized assets, HOF targets early-stage opportunities that can be executed through Hanover’s vertically integrated development platform.
“Today’s real estate environment is seeing a massive demographic shift and accelerated obsolescence in office, all against a backdrop of capital scarcity,” Bowden added. “HOF is built to take on the risk to repos
