Press Releases

EQUUS ACQUIRES CONTROLLING INTEREST OF 288,127 SF CLASS A OFFICE COMPLEX IN WALTHAM, MA

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p class="p1"><strong>PHILADELPHIA, PA. – (May 15, 2014)</strong> – Equus Capital Partners, Ltd. (Equus), one of the nation’s leading private equity real estate fund managers, announced today that one of its affiliates recapitalized University Office Park, a two building, 288,127 square foot Class A office park located in Waltham, a suburb of Boston.&#160; The property was 87 percent occupied at the time of closing.&#160;</p> <p class="p1">“By working with Direct Invest, LLC in restructuring and recapitalizing the previous tenant-In-common ownership structure , Equus will be able to provide the properties with ample capital for base building upgrades, tenant improvements, and leasing commissions. With this infusion of equity, Equus will reposition the buildings and revitalize these well located properties,” commented George Haines, vice president of Equus, who oversaw the transaction for the firm. In addition to its preferred equity infusion, Equus also acquired more than 25% of the ownership interests in the buildings. Affiliates of Equus will serve as the Managing General Partner of the portfolio and perform property management services. &#160; &#160;</p> <p class="p1">Through the process, Equus gained unique experience in restructuring a tenant-in-common ownership vehicle. Loretta Kelly, General Counsel for Equus, added, “The structuring of the transaction, which needed to address the issues related to the tenants in common as well as of our Fund, was an interesting challenge and I am pleased that we were able to navigate the many legal issues to a successful conclusion. We benefit greatly from the knowledge that we gained about the tenant in common ownership structure when used in a commercial real estate setting. I am confident that we can use that knowledge base in future transactions.”</p> <p class="p2">University Office Park consists of two, six-story Class A buildings that include six-story atrium lobbies with glazed curtain wall systems that maximize natural light. With fixed ribbon glass windows and exterior balconies, the upper floors of the buildings offer views over the Charles River and into the City of Boston. The buildings are uniquely situated within 300’ of the MBTA Brandeis Station, which provides train access to downtown Boston’s North Station in 25 minutes<span class="s1">.</span></p> <p class="p2">University Office Park is located approximately 1-1/2 miles from the intersection of Route 128 and the Massachusetts Turnpike. The property enjoys easy access to nearby amenities in Waltham, West Newton, and Weston including restaurants, shopping, hotels, other office buildings, and a variety of housing.&#160;</p> <p class="p1">The acquisition of the leasehold interest in University Park was made on behalf of BPG Investment Partnership IX, L.P. (Fund IX), Equus’ $310 million private equity fund.</p> <p class="p1"><strong>About Equus Capital Partners, Ltd.&#160; <br /> </strong> Equus Capital Partners 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 18,000 apartment units in 70 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 www.equuspartners.com.&#160;</p> <p class="p1"><strong>For additional information on the company, please contact:</strong><br /> Joseph G. Nahas, Jr., Vice President, 215-575-2363&#160;</p> <p class="p1"><strong>For additional information on the property, please contact:</strong><br /> George Haines, Vice President, 215-575-2493</p> </body> </html>