Press Releases

EQUUS ACQUIRES 376 UNIT MULTIFAMILY COMMUNITY IN ST. LOUIS, MISSOURI

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p class="p1"><strong>Philadelphia, PA – (November 20, 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 Bell Prairie Point, a 376 unit multifamily community located in O’Fallon, a suburb of St. Louis, Missouri from affiliates of Bell Partners Inc.&#160; The community was approximately 95 percent occupied at the time of closing. Madison Apartment Group, L.P. (Madison), the multifamily operating arm of Equus will manage the community for the firm.&#160;</p> <p class="p1">“The transaction provided us with the opportunity to acquire a well located multifamily community in the desirable St. Louis suburban community of O’Fallon,” commented Steve Pogarsky, vice president of Equus who oversaw the acquisition for the firm. “We continue to seek well located portfolio and single asset acquisition opportunities in primary and secondary markets nationwide in an effort to add to our national footprint.”</p> <p class="p1">Bell Prairie Point has been renamed Madison Prairie Point.&#160; The garden style community includes a mixture of one, two and three bedroom apartments. Onsite amenities include a clubhouse, fitness center, pool, playground, dog park and tennis court.&#160; Over the coming months, Equus will invest more than $3 million to improve the community including a comprehensive rebranding program, substantial improvements and updates to the community amenities and apartment interior upgrades.&#160;</p> <p class="p1">Madison Prairie Point is located 30 mile west of downtown St. Louis in the St. Charles County submarket. The community is situated near Highway K at the new Page Avenue Extension and Interstates 64 and 70, providing convenient access to employment centers, shopping and entertainment venues. &#160;</p> <p class="p1">The acquisition of Madison Prairie Point was made on behalf of BPG Investment Partnership IX, L.P. (Fund IX), a discretionary fund managed by Equus. This is the second multifamily acquisition that Equus has made in suburban St. Louis on behalf of the fund. Last year, the firm acquired Madison Rockwood, a 251 unit multifamily community in Ballwin, MO.&#160;</p> <p class="p1"><span class="s1"><strong>About Equus Capital Partners, Ltd.</strong></span><br />Equus Capital Partners 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 15,000 apartment units in over 55 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 class="p1"><strong>About Madison Apartment Group, L.P.</strong><br />Madison Apartment Group, L.P. (Madison) is the multifamily operating arm for Equus Capital Partners, Ltd.. Madison manages Equus’ multifamily portfolio consisting of nearly 15,000 apartment units in over 55 communities located in 13 states throughout the United States. For additional information, please visit the company’s website at www.madisonapartmentgroup.com</p> <p class="p1"><strong>For additional information on the company, please contact: <br /> </strong> Joseph Nahas, Jr, Senior Vice President, 215-575-2363</p> <p class="p2"><strong>For additional information on the property, please contact: <br /> </strong> Steve Pogarsky, Vice President, 215-575-2445</p> </body> </html>