Press Releases

EQUUS ACQUIRES 193,988 SQUARE-FOOT OFFICE BUILDING IN HOUSTON, TX

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><img src="/media/0f93e5f2-ed22-4772-b76d-1fa2a0732701/@Comerica Bank Building - Press Release/CBRE - Comerica Bank Building Sugar Land_png" /></p> <p><strong>Houston, TX – (September 2, 2015)</strong> – Equus Capital Partners, Ltd. (“Equus”), one of the nation’s leading private equity real estate fund managers, announced today that an affiliate has acquired One Sugar Creek Center – Comerica Bank Building, located in the Sugar Land submarket of Houston, TX, one of the most affluent and fastest growing cities in the state. The acquisition was made on behalf of Equus Investment Partnership IX, L.P. (“Fund IX”), a discretionary fund managed by Equus. At the time of closing, the property was 89% occupied.</p> <p>Built in 1983, the 11-story building is situated on 4.5 acres and, as one of the tallest and most recognizable office buildings in the submarket, is strategically located along the north side of US-59 at the intersection with South Dairy Ashford Road, allowing for high visibility. &#160;The property enjoys excellent accessibility across the greater Houston Metro area as it is situated just one-half mile south of US Highway 90A, two miles from State Highway 6, four miles from Beltway 8, and 7 miles from Grand Parkway. In addition, the property enjoys easy access to residential areas, as well as a broad base of amenities including nearby restaurants, retail shops, and hotels. &#160;</p> <p>The building’s amenities include surface parking and an attached four-level parking garage which together provide an overall parking ratio of 4.2 per 1,000 square-feet. The building’s on-site conveniences include a deli and a full-service banking facility. “This transaction provides the opportunity to acquire a best in-class suburban office asset in a location with an expanding array of amenities, along with &#160;excellent access to the vast and desirable Houston employment base,” said Kyle Turner, Director of Investments of Equus Capital Partners, Ltd., who along with Roy Perry, Senior Vice President, oversaw the acquisition. “With our plans for significant capital upgrades and an added amenity package, we are confident that the Comerica Bank Building will be an even more highly sought after location.” Planned upgrades include the addition of a tenant lounge, conference center, common-area/building Wi-Fi, and building concierge. Additional capital improvements and renovations will be made to the lobby, restrooms, and common areas.</p> <p>Jared Chua and Bernard Branca of CBRE’s Investment Properties – Institutional Group in Houston, Texas, represented the seller.</p> <p><strong>About Equus Capital Partners, Ltd. <br /> </strong> Equus Capital Partners, Ltd. (“Equus”), 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 16,000 apartment units in over 60 multi-family communities located throughout the United States. The firm is headquartered in the Philadelphia area, with a principal office in Yardley, PA, and with offices in Philadelphia, Los Angeles, Chicago, 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 about the company, please contact: <br /> </strong> Joseph G. Nahas, Jr., Senior Vice President<br /> (215) 575-2363 or visit <a href="http://www.equuspartners.com/">www.equuspartners.com</a></p> <p><strong>For additional information on the property, please contact: <br /> </strong> Kyle Turner, Director of Investments<br /> (215) 575-2447 or <a href="mailto:kturner@equuspartners.com">kturner@equuspartners.com</a></p> </body> </html>