Press Releases

EQUUS ACQUIRES A THREE PROPERTY MULTIFAMILY PORTFOLIO IN FLORIDA

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><strong>Philadelphia, PA – (August 1, 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 property multifamily portfolio located in Central Florida from affiliates of Oculus Development, LLC and Alex. Brown Realty, Inc. The communities, known as Village at East Lake, Village at Lake Ned and Village at Park Road, total 710 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.</p> <p>Village at East Lake is the largest of the three properties and is located near the intersection of Routes 50 and 27 in Clermont within 25 miles of Orlando. The 250 unit garden style community has been renamed Madison Clermont. It includes a mixture of one, two and three bedroom apartments with an average unit size of 1,031 square feet. Onsite amenities consist of a pool, tennis and basketball courts, fitness center, playground and a lake.</p> <p>Situated 40 miles south in Winter Haven, Village at Lake Ned is a 212 unit garden style apartment community that also contains a mixture of one, two and three bedroom apartments with onsite amenities including a fitness and business center, pool, volleyball, tennis and basketball courts and immediate access to Lake Ned. It has been renamed Madison Lake Ned. Located near Route 540, the community is just one mile from the 145-acre Legoland and within 2 miles of State Farm Insurance’s regional headquarters.</p> <p>Village at Park Road is located in Plant City, within one half mile of I-4 which connects to Tampa and Orlando. The community has been renamed Madison Park Road and also offers a mixture of one, two and three bedroom apartment homes with the same onsite amenities as its sister communities.</p> <p>Over the coming months, Equus will invest nearly $4 million to improve the portfolio, including a comprehensive rebranding and repositioning of the communities. The improvements will include upgrading the interiors including new appliances, countertops, cabinets, flooring, lighting and fixtures. Dog parks will be added at each of the communities and the existing amenities will be dramatically improved as well.</p> <p>Steve Pogarsky, head of multifamily acquisitions for Equus commented, “We continue to seek portfolio and single asset acquisitions in primary and secondary markets nationwide in an effort to expand our nationwide footprint.”</p> <p>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.</p> <p><strong>About Equus Capital Partners, Ltd. <br /> </strong>Equus Capital Partners, Ltd. is one of the nation’s leading private equity real estate fund managers. 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 www.equuspartners.com.</p> <p><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 70 communities located in 15 states throughout the United States. For additional information, please visit the company’s website at www.madisonapartmentgroup.com</p> <p><strong>For additional information on the company, please contact: <br /> </strong>Joseph Nahas, Jr, Vice President, 215-575-2363</p> <p><strong>For additional information on the portfolio, please contact:</strong><br />Steve Pogarsky, Vice President, 215-575-2445</p> </body> </html>