Press Releases

EQUUS ANNOUNCES SALE OF MADISON RIDGELAKE IN NASHVILLE, TENNESSEE FOR $47,000,000

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><strong>PHILADELPHIA, PA. – November 1, 2013</strong> – Equus Capital Partners, Ltd. (Equus), formerly BPG Properties, Ltd., one of the nation’s leading private equity real estate fund managers, announced today the sale of Madison Ridgelake, a 560 unit apartment community in Nashville, Tennessee, for $47,000,000 to Arenda Capital Management, LLC. At the time of the sale, the community was 98 percent leased.<br /></p> <p>“Nashville’s compelling market fundamentals and renter demographics combined with Madison Ridgelake’s history of consistent rent growth resulted in an extraordinary level of investor interest for this well located community,” commented Greg Curci, vice president at Equus who was responsible for overseeing the disposition.<br /></p> <p>Located in the desirable Bellevue submarket, the garden style community is located just 10 miles southwest of downtown Nashville. It offers a mix of one and two bedroom apartments and townhomes. The community offers exceptional amenities including indoor and outdoor pools, a fitness center, two indoor racquetball courts, tennis courts, volleyball courts and a dog park.<br />The Seller was represented by David Gutting and Vincent Lefler of Jones Lang LaSalle.<br /></p> <p>An affiliate of Equus acquired Madison Ridgelake in 2004 on behalf of BPG Investment Partnership Fund VI, L.P., a $384,000,000 private equity fund. &#160;<br /></p> <p><strong>About Equus Capital Partners, Ltd.</strong><br />Equus Capital Partners, formerly BPG Properties, 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, student housing, and industrial properties and more than 18,000 apartment units in over 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.<br /></p> <p><strong>For additional information on the company, please contact:</strong><br />Joseph Nahas, Jr, Vice President, 215-575-2363<br /><br /><strong>For additional information on the property, please contact:</strong><br />Greg Curci, Vice President, 215-575-2307<br /><br /></p> </body> </html>