Press Releases

EQUUS ANNOUNCES $63 MILLION SALE OF 1000 CONTINENTAL IN KING OF PRUSSIA, PA

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p class="p1"><strong>PHILADELPHIA, PA. – February 13, 2014 –</strong> Equus Capital Partners, Ltd. (Equus), one of the nation’s leading private equity real estate fund managers, announced today the sale of 1000 Continental Drive, a 205,424 square foot, Class A office building located in King of Prussia, Pennsylvania to California based KBS Realty Advisors for $63,000,000.&#160; At the time of the sale, the building was 99 percent occupied.&#160;</p> <p class="p2">“The sale of 1000 Continental represents the culmination of a successful development project that was delivered during one of the worst economic recessions in our history and highlights the value of delivering a top tier asset designed to meet today’s demanding tenant requirements,” commented Stephen M. Spaeder, senior vice president of Equus who was responsible for overseeing the development and management of the property.&#160;</p> <p class="p1">Jim Vesey, Doug Rodio, Jim Galbally and John Plower of Jones Lang LaSalle represented the seller in the disposition.</p> <p class="p1">1000 Continental is located at the highly traveled intersection of Routes 202, 422 and Interstate 76 in King of Prussia. It is the only office building in the market that has been awarded LEED™ Silver certification by the USGBC.&#160; The six-story building also features an exterior of polished granite accents and a distinctive curved glass exterior on the north elevation, a two-story lobby with granite flooring, 9' finished ceiling heights with extensive floor-to-ceiling glass, fully engineered HVAC with tenant controlled hours of operation. On-site amenities consist of a professionally equipped fitness center, complimentary corporate concierge services and a deli with wireless Internet access.&#160; Major tenants include Hartford Insurance, Nationwide, FT Services, Sedgwick Services, Farmers Insurance, UNUM and Guinan Financial Group.&#160;</p> <p class="p1">In 2008, BPG Development Company, L.P., the development operating arm of Equus, completed the speculative development of 1000 Continental on behalf of the ownership. &#160;</p> <p class="p1"><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.&#160; Equus’ portfolio consists of over 24 million square feet of office, retail, student housing, and industrial properties and more than 16,000 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 <a href="%22http:/"><span class="s1">www.equuspartners.com</span></a>.</p> <p class="p1"><strong>For additional information on the company, please contact:</strong><br /> Joseph Nahas, Jr, Vice President, 215-575-2363</p> <p class="p1"><strong>For additional information on the transaction, please contact:</strong><br /> Christopher J. Locatell, Senior Vice President, 215-575-2349</p> </body> </html>