Press Releases

EQUUS ACQUIRES A THREE PROPERTY MULTIFAMILY PORTFOLIO IN RALEIGH, NC

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p class="p1"><strong>PHILADELPHIA, PA – (April 9, 2014)</strong> – Equus Capital Partners, Ltd. (Equus), one of the nation’s leading private equity real estate fund managers, announced today that its affiliates have acquired a three&#160; property multifamily portfolio located in Raleigh from a joint venture between Silver Companies and McCann Realty Partners.&#160; The communities, known as Laurel Oaks, Laurel Springs and Hunters Glen, total 466 units and were 96 percent occupied at the time of closing. Madison Apartment Group, L.P. (Madison), the multifamily operating arm of Equus, will manage the communities for the firm.&#160;</p> <p class="p1">“The transaction provided us with the opportunity to acquire three well-located multifamily communities in Raleigh, one of the premier growth markets in the Southeastern United States,” commented Matthew Joiner, acquisitions manager of Equus who oversaw the acquisition for the firm. An affiliate of Equus, BPG Management-NC, LLC also owns and manages 4.3 million square feet of industrial and office space within 66 buildings in the Raleigh-Durham market.&#160;</p> <p class="p1">Hunters Glen is the largest of the three properties and is located in the Central Raleigh submarket.&#160; The 180 unit garden style community has been renamed Madison Hunters Glen.&#160; The property includes a mixture of one and two bedroom apartments with recently upgraded kitchens and bathrooms. Onsite amenities consist of a pool, a dog park, tennis courts and sand volleyball court. The property offers easy access to I-40 and I-440, providing connections to downtown Raleigh and North Carolina State University.&#160;</p> <p class="p1">Situated just 8 miles away, Laurel Oaks is a 164 unit garden style community that also includes a mixture of one and two bedroom apartments with onsite amenities including a pool, grilling areas and tennis courts.&#160; The property is located in the Northwest Raleigh submarket with convenient access to I-440 and I-540 for easy commuting to the Crabtree Valley Mall, Research Triangle Park and downtown Raleigh.&#160;</p> <p class="p1">Laurel Springs, the smallest property in the portfolio with 122 units, is located 3 miles from Laurel Oaks and offers a mixture of large one and two bedroom apartments with onsite amenities including a pool and grilling areas. The property is located in the North Central Raleigh submarket with direct access to I-440 and I-540 for easy commuting to North Hills, Research Triangle Park and downtown Raleigh.</p> <p class="p1">Over the coming months, Equus will invest nearly $4 million to improve, rebrand and reposition the communities.&#160; The most significant renovations will occur at Laurel Oaks and Laurel Springs and will include extensive exterior renovations to replace the roofs and siding. Apartment interiors will be upgraded with new kitchen appliances, cabinetry and flooring upgrades and the addition of washer/dryers in the apartments. Dog parks will also be added to both locations and the existing amenities will receive an extensive makeover.&#160; Steve Pogarsky, head of multifamily acquisitions for Equus commented, "We continue to expand our national presence by investing in those markets which exhibit strong long-term fundamentals.” &#160;Equus is actively seeking additional opportunities to add to its existing nationwide multifamily portfolio.&#160;</p> <p class="p1">The acquisition of this three property multifamily portfolio was made on behalf of BPG Investment Partnership IX, L.P. (Fund IX), Equus’ $310 million private equity fund.&#160;</p> <p class="p2"><strong>About Equus Capital Partners, Ltd.</strong><br /> Equus Capital Partners, Ltd. is one of the nation’s leading private equity real estate fund managers.&#160; Equus’ portfolio consists of over 24 million square feet of office, retail and industrial properties and nearly 17,000 apartment units in over 65 communities located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Los Angeles, Chicago, Washington DC, Boston, Atlanta and Raleigh-Durham. For additional information, please visit the company’s website at <span class="s1">www.equuspartners.com.&#160;</span></p> <p class="p2"><strong>About Madison Apartment Group, L.P. <br /> </strong> Madison Apartment Group, L.P. (Madison) is the multifamily operating arm for Equus Capital Partners, Ltd.. Madison manages Equus’ multifamily portfolio consisting of nearly 17,000 apartment units in over 65 communities located in 14 states throughout the United States. For additional information, please visit the company’s website at www.madisonapartmentgroup.com</p> <p class="p2"><strong>For additional information on the company, please contact:</strong><br /> Joseph Nahas, Jr, Vice President, 215-575-2363</p> <p class="p3"><strong>For additional information on the property, please contact:</strong><br />Steve Pogarsky, Vice President, 215-575-2445</p> <p class="p1"><strong>EQUUS ACQUIRES A THREE PROPERTY MULTIFAMILY PORTFOLIO IN RALEIGH, NC</strong></p> <p class="p1"><strong>PHILADELPHIA, PA – (April 9, 2014)</strong> – Equus Capital Partners, Ltd. (Equus), one of the nation’s leading private equity real estate fund managers, announced today that its affiliates have acquired a three&#160; property multifamily portfolio located in Raleigh from a joint venture between Silver Companies and McCann Realty Partners.&#160; The communities, known as Laurel Oaks, Laurel Springs and Hunters Glen, total 466 units and were 96 percent occupied at the time of closing. Madison Apartment Group, L.P. (Madison), the multifamily operating arm of Equus, will manage the communities for the firm.&#160;</p> <p class="p1">“The transaction provided us with the opportunity to acquire three well-located multifamily communities in Raleigh, one of the premier growth markets in the Southeastern United States,” commented Matthew Joiner, acquisitions manager of Equus who oversaw the acquisition for the firm. An affiliate of Equus, BPG Management-NC, LLC also owns and manages 4.3 million square feet of industrial and office space within 66 buildings in the Raleigh-Durham market.&#160;</p> <p class="p1">Hunters Glen is the largest of the three properties and is located in the Central Raleigh submarket.&#160; The 180 unit garden style community has been renamed Madison Hunters Glen.&#160; The property includes a mixture of one and two bedroom apartments with recently upgraded kitchens and bathrooms. Onsite amenities consist of a pool, a dog park, tennis courts and sand volleyball court. The property offers easy access to I-40 and I-440, providing connections to downtown Raleigh and North Carolina State University.&#160;</p> <p class="p1">Situated just 8 miles away, Laurel Oaks is a 164 unit garden style community that also includes a mixture of one and two bedroom apartments with onsite amenities including a pool, grilling areas and tennis courts.&#160; The property is located in the Northwest Raleigh submarket with convenient access to I-440 and I-540 for easy commuting to the Crabtree Valley Mall, Research Triangle Park and downtown Raleigh.&#160;</p> <p class="p1">Laurel Springs, the smallest property in the portfolio with 122 units, is located 3 miles from Laurel Oaks and offers a mixture of large one and two bedroom apartments with onsite amenities including a pool and grilling areas. The property is located in the North Central Raleigh submarket with direct access to I-440 and I-540 for easy commuting to North Hills, Research Triangle Park and downtown Raleigh.</p> <p class="p1">Over the coming months, Equus will invest nearly $4 million to improve, rebrand and reposition the communities.&#160; The most significant renovations will occur at Laurel Oaks and Laurel Springs and will include extensive exterior renovations to replace the roofs and siding. Apartment interiors will be upgraded with new kitchen appliances, cabinetry and flooring upgrades and the addition of washer/dryers in the apartments. Dog parks will also be added to both locations and the existing amenities will receive an extensive makeover.&#160; Steve Pogarsky, head of multifamily acquisitions for Equus commented, "We continue to expand our national presence by investing in those markets which exhibit strong long-term fundamentals.” &#160;Equus is actively seeking additional opportunities to add to its existing nationwide multifamily portfolio.&#160;</p> <p class="p1">The acquisition of this three property multifamily portfolio was made on behalf of BPG Investment Partnership IX, L.P. (Fund IX), Equus’ $310 million private equity fund.&#160;</p> <p class="p2"><strong>About Equus Capital Partners, Ltd.</strong><br /> Equus Capital Partners, Ltd. is one of the nation’s leading private equity real estate fund managers.&#160; Equus’ portfolio consists of over 24 million square feet of office, retail and industrial properties and nearly 17,000 apartment units in over 65 communities located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Los Angeles, Chicago, Washington DC, Boston, Atlanta and Raleigh-Durham. For additional information, please visit the company’s website at <span class="s1">www.equuspartners.com.&#160;</span></p> <p class="p2"><strong>About Madison Apartment Group, L.P. <br /> </strong> Madison Apartment Group, L.P. (Madison) is the multifamily operating arm for Equus Capital Partners, Ltd.. Madison manages Equus’ multifamily portfolio consisting of nearly 17,000 apartment units in over 65 communities located in 14 states throughout the United States. For additional information, please visit the company’s website at www.madisonapartmentgroup.com</p> <p class="p2"><strong>For additional information on the company, please contact:</strong><br /> Joseph Nahas, Jr, Vice President, 215-575-2363</p> <p class="p3"><strong>For additional information on the property, please contact:</strong><br /> Steve Pogarsky, Vice President, 215-575-2445</p> </body> </html>