Press Releases

EQUUS ANNOUNCES THE SALE OF MADISON RIVER PLACE IN MACON, GA

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><img src="/media/fd4d965e-8471-4e8a-ad45-91cd105a593c/Press Releases/2016_2-2_Madison River Place Sale_2-2-2016/Madison River Place_Web Photo_png" /></p> <p><strong>February 1, 2016</strong> – Equus Capital Partners, Ltd. ("Equus"), one of the nation’s leading private equity fund managers, announced today the sale of Madison River Place in Macon, GA. &#160;The 240-unit apartment community was sold to Mullberry Properties, LLC for $14,525,000.&#160; At the time of the sale the community was 95 percent occupied.</p> <p>“We received twenty written offers for this well-maintained community that presented investors with a stable and attractive yield proposition,” commented Greg Curci, Vice President of Equus who was responsible for overseeing the disposition for the firm.</p> <p>The Seller was represented by Robert Stickel of Multi Housing Advisors.</p> <p>Built in 1988, the community is situated within the desirable North Macon Submarket where it benefits from its proximity to major employers, premier retail centers, and convenient access to I-75. The garden-style apartment community offers a diverse mix of one and two bedroom apartments in a low-density and attractive setting. All apartments include private entrances, central air, and patios or balconies, while select units offer in-unit washers and dryers, fireplaces, and vaulted ceilings.&#160; Community amenities include a resort-style swimming pool, fitness center, tennis and beach volleyball courts, and playground.</p> <p>An affiliate of Equus acquired Madison River Place in 2004 from a publicly traded REIT as part of a six-property portfolio with assets in Florida, North Carolina, and Georgia. The transaction was made on behalf of BPG Investment Partnership VI, L.P., a $384 million private equity fund managed by Equus.</p> <p><strong>About Equus Capital Partners, Ltd.</strong><br /> Equus Capital Partners is one of the nation’s leading private equity real estate fund managers.&#160; Equus’ portfolio consists of approximately 18 million square feet of office, retail, and industrial properties and over 11,000 apartment units in 49 communities located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Chicago, Los Angeles, Washington D.C., Boston, Atlanta, and Raleigh-Durham. For additional information, please visit the company’s website at <a href="http://www.equuspartners.com/">www.equuspartners.com</a>.</p> <p><strong>For additional information on the company, please contact:</strong><br /> Joseph G. Nahas, Jr., CRE, Senior Vice President, (215) 575-2363</p> <p><strong>For additional information on the transaction, please contact: <br /> </strong> Greg Curci, Vice President, (215) 575-2307 or <a href="mailto:gcurci@equuspartners.com">gcurci@equuspartners.com</a><br /></p> </body> </html>