Press Releases

EQUUS ACQUIRES A TWO PROPERTY MULTIFAMILY PORTFOLIO IN SUBURBAN MINNEAPOLIS, MN

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p class="p1"><strong>PHILADELPHIA, PA – (March 21, 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 two property multifamily portfolio located in suburban Minneapolis from Henderson Global Investors.&#160; The communities, known as Atrium Apartments and Trailway Pond Apartments, total 588 units and were 95 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 two well-located multifamily communities in Burnsville, a desirable suburb of Minneapolis,” commented Brant Glomb, vice president of Equus who oversaw the acquisition for the firm. Collectively, Atrium and Trailway are the third acquisition Equus has made in the Minneapolis metropolitan area of Minnesota but the first multifamily investment. Equus also owns and operates the 920,000 square foot Metropoint office complex in St. Louis Park, Minnesota as well as the 540,000 square foot office park known as Grand Oak in Eagan, Minnesota.</p> <p class="p1">Atrium Apartments is the larger of the two properties.&#160; The 348 unit garden style community has been renamed Madison Atrium.&#160; It includes a mixture of one and two bedroom apartments situated within four buildings each atop a heated underground parking garage. Onsite amenities consist of a clubhouse, indoor and outdoor pools, spa, fitness center, indoor recreation court and tennis courts.&#160;</p> <p class="p1">Situated just four miles away, Trailway Pond Apartments is a 240 unit garden style community that also includes a mixture of one and two bedroom apartments situated within three buildings each atop a heated underground parking garage. Laundry or fitness centers are located on each floor of the apartment buildings. Additional onsite amenities include a clubhouse, pool, tennis courts and a pond surrounded by bike paths and nature trails. Trailway Pond Apartments has been renamed Madison Trailway.</p> <p class="p1">Over the coming months, Equus will invest more than $4.5 million to improve both communities including a comprehensive rebranding program, improvements and updates to the community amenities, common area hallway renovations and apartment interior upgrades. Steve Pogarsky, head of multifamily acquisitions for Equus commented, "We continue to expand our national presence by investing in those markets with favorable supply/demand fundamentals.” &#160;Equus is actively seeking additional opportunities to add to its existing nationwide multifamily portfolio.&#160;</p> <p class="p1">Madison Atrium and Madison Trailway are both located within the City of Burnsville, which is part of the Dakota County submarket.&#160; The communities are equidistant (17± miles) from the Minneapolis and St. Paul Central Business Districts and are situated at the confluence of Interstates 35W and 35E, a major commercial corridor, providing convenient access to employment centers, shopping and entertainment venues including the Mall of America.&#160;</p> <p class="p1">The acquisition of this two 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>