Rich May: News
July 11, 2007
High Rock Development Closes $50 Million Fund
High Rock Equities Fund I, L.P. Will Focus on Acquiring and Developing Commercial Real Estate Opportunities
Rich May congratulates its client High Rock Development, LLC, a real
estate development and investment firm focused on commercial retail
opportunities in the New England area, on the closing of its first
fund, High Rock Equities Fund I, L.P. at $50 million. With leverage,
High Rock Fund I will be able to invest up to $200 million.
High Rock Fund I will acquire, develop, re-develop, lease and/or sell
real estate in the United States. While the initial primary focus of
the Fund will be investing in commercial retail opportunities in the
New England area, the Fund maintains flexibility to invest in
opportunities outside of the New England area and in all sectors of the
real estate industry. The general partner of High Rock Fund I is High
Rock Development, LLC of Wellesley, Massachusetts. The founder of High
Rock Development is David C. Sweetser.
Mr. Sweetser received his Bachelor of Arts degree from Bowdoin College
and his MBA from Suffolk University. He has been working in the
national and New England real estate and development markets since his
graduation from Bowdoin in 1977 and has become a well known and
respected figure both nationally and in the New England region. Most
recently, Mr. Sweetser served as COO for the Heritage Property
Investment Trust and was responsible for the day to day operations of
this 32 million square foot, 165 shopping center, 185 person REIT.
Prior to his involvement with Heritage, Mr. Sweetser served in a number
of management capacities for a variety of important area businesses,
including acting as Director of Leasing for Eastern Development, Inc.,
President of GovConnect, Inc. (Renaissance, Inc), VP of Real Estate for
National Amusements, Inc., Founder and President of Trademark
Development, Inc. and VP of Leasing for Equity Properties and
Development Co. His experience and connections in the real estate
industry are strong. Mr. Sweetser is a member of the International
Council of Shopping Centers (ICSC), former member of the Faculty of the
ICSC University and Past Chairman of the New England Idea Exchange.
“We are delighted to have closed High Rock Fund I and look forward to
becoming active market participants,” said Mr. Sweetser. “This is the
appropriate size fund for our acquisition and development strategy. We
have the flexibility both to pursue small, niche properties and to
engage in major development activities. We are gratified at the
confidence shown to us by the investor community.”
Rich May, a Professional Corporation of Boston, Massachusetts serves as
counsel to the Fund and Braver, P.C. of Newton, Massachusetts serves as
the certified public accounting firm for the Fund.
For information about High Rock, please contact:
David C. Sweetser, President and Manager
High Rock Development, LLC
70 Walnut Street
Wellesley, MA 02481
Telephone: 781-239-8225
Fax: 781-239-8005
Email: dsweetser@highrockdevelopment.com
About Rich May
Rich May’s diverse practice embraces the organization and operation of
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relations, intellectual property, litigation and dispute resolution,
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estate. Rich May provides superior legal and strategic counsel through
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