Press Releases

EQUUS SELLS SCOTTSDALE FINANCIAL CENTER IN SCOTTSDALE, ARIZONA

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><img src="/media/31a172f1-7e6b-4520-a734-c42936ac42e5/Press Releases/2016_11-10_Scottsdale Financial Center Sale_11-10-2016/Scottsdale Financial Center_Exterior_jpg" /></p> <p><strong>Scottsdale, AZ – November 3, 2016</strong> – Equus Capital Partners, Ltd. (“Equus”), one of the nation’s leading private equity fund managers, announced today the sale of Scottsdale Financial Center in Scottsdale, Arizona. The 107,000 square-foot class-A office building was sold to the Alternative Investments &amp; Manager Selection (AIMS) Real Estate Group, a business unit within Goldman Sachs Asset Management, and was 93% leased at the time of sale.</p> <p>Scottsdale Financial Center was acquired in 2008 on behalf of an affiliate of Equus, BPG Investment Partnership VIII, a fully discretionary private equity fund managed by Equus.&#160; Since acquisition and after spending over $3 million in renovations, Equus transformed the property into an award-winning, multi-tenant Class-A office building.&#160; The redeveloped property was awarded EnergyStar label from 2011-2016 and was awarded the Office Building of the Year in the Renovated Building Category in 2011 by The Building Owners and Managers Association of Greater Phoenix.&#160;</p> <p>“Scottsdale Financial Center had been virtually untouched since it was built in 1983 and needed a complete overhaul, including building exteriors, roofs, elevators, common areas and landscaping,” said Jonathan Praw, Vice President and Head of West Coast Operations for Equus who oversaw the reposition and disposition efforts for the firm. “When we acquired the complex it was just 68% leased. After our renovations were complete, we were able to quickly improve occupancy and take advantage of the strong tenant demand in Old Town Scottsdale,” he added.</p> <p>Scottsdale Financial Center is located at 4110 N. Scottsdale Road, at the southwest corner of Scottsdale Road and Indian School.&#160; It is currently 93% leased to a diverse tenant roster.&#160;</p> <p><strong>About AIMS Real Estate</strong><br /> AIMS Real Estate is part of Goldman Sachs Asset Management’s Alternative Investments &amp; Manager Selection Group, which manages over $150 billion in assets across leading hedge-fund, private-equity, real-estate, and traditional long-only managers through new fund commitments, secondary investments, fund-of-fund investments, co-investments and seed capital investments.</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 more than 17 million square-feet of office, retail, and industrial properties and nearly 10,000 apartment units across 42 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/"><u>www.equuspartners.com</u></a>.</p> <p><strong>For additional information about the company, please contact:</strong><br /> Joseph G. Nahas, Jr., Senior Vice President<br /> (215) 575-2363 or visit <a href="http://www.equuspartners.com/"><u>www.equuspartners.com</u></a></p> <p><strong>For additional information about the property, please contact: <br /> </strong> Jonathan B. Praw, Vice President<br /> (310) 725-8435 or <a href="mailto:jpraw@equuspartners.com"><u>jpraw@equuspartners.com</u></a><br /></p> </body> </html>