Press Releases

EQUUS ACQUIRES 251 UNIT MULTIFAMILY COMMUNITY IN BALLWIN, MO

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><strong>PHILADELPHIA, PA – (August 30, 2013)</strong> – Equus Capital Partners, Ltd. (Equus), formerly BPG Properties, Ltd., one of the nation’s leading private equity real estate fund managers, announced today that one of its affiliates has acquired Village Park of Ballwin, a 251 unit multifamily community located&#160; in Ballwin, a suburb of St. Louis, Missouri from Village Green. The community was approximately 93 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.</p> <p><br />“The transaction provided us with the opportunity to acquire a well located multifamily community in Ballwin, a desirable suburb of St. Louis,” commented Steve Pogarsky, vice president of Equus who oversaw the acquisition for the firm.</p> <p><br />Village Park of Ballwin has been renamed Madison Rockwood.&#160; The garden style community includes a mixture of studio, one and two bedroom apartments and three bedroom townhomes. Onsite amenities include a clubhouse, fitness center, pool and tennis and racquetball courts. Over the coming months, Equus will invest more than $1.4 million to improve the community including a comprehensive rebranding program, substantial improvements and updates to the community amenities, common area hallway renovations and apartment interior upgrades.</p> <p><br />Madison Rockwood is located 25 miles west of downtown St. Louis in the Manchester/West County submarket. The community is located just off of Manchester Road, a major east-west commercial corridor, providing convenient access to employment centers, shopping and entertainment venues. It is also within one mile of Madison Seven Trails, a 532 unit community owned by an affiliate of Equus and managed by Madison.</p> <p><br />The acquisition of Madison Rockwood was made on behalf of BPG Investment Partnership IX, L.P. (Fund IX), a discretionary fund managed by Equus, which commenced making acquisitions in February 2012. It is the third multifamily community that has been acquired on behalf of Fund IX.<br /></p> <p><strong>About Equus Capital Partners, Ltd.</strong><br />Equus Capital Partners, formerly BPG Properties, Ltd,&#160; 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 18,000 apartment units in 70 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.<br /><br /><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 18,000 apartment units in over 70 communities located in 13 states throughout the United States. For additional information, please visit the company’s website at www.madisonapartmentgroup.com<br /><br /><strong>&#160;For additional information on the company, please contact:</strong><br />Joseph Nahas, Jr, Vice President, 215-575-2363<br /><br /><strong>For additional information on the property, please contact:</strong><br />Steve Pogarsky, Vice President, 215-575-2445<br /><br /></p> </body> </html>