Press Releases

EQUUS ANNOUNCES THE SALE OF KANSAS CITY APARTMENT PORTFOLIO

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><img src="/media/84ba4276-52a1-4585-b37a-8a6315dc7384/Press Releases/2016_10-19_Kansas City Apartment Portfolio Sale_10-19-2016/Kansas City Apartment Portfolio Sale Photos_jpg" /></p> <p><strong>PHILADELPHIA, PA. – October 18, 2016</strong> – Equus Capital Partners, Ltd. (Equus), one of the nation’s leading private equity fund managers, announced today the sale of three multi-family apartment communities in the Kansas City MSA. The 483-unit portfolio was sold to Denver-based Monarch Investment and Management Group for $35,000,000.&#160; At the time of the sale the portfolio was 97 percent occupied.</p> <p>An affiliate of Equus acquired the three projects in 2007 from The Laramer Group for cash and the assumption of $10.7M of tax-exempt bonds. The transaction was made on behalf of BPG Investment Partnership VIII, L.P., a $530 million private equity fund managed by Equus.</p> <p>“Investors reacted favorably to a compelling yield proposition and an opportunity to gain a stable footprint in the southern Kansas City Metro,” commented Greg Curci, Vice President of Equus, who was responsible for overseeing the disposition for the firm.</p> <p>Madison Woodridge and Madison Mill Creek are neighboring communities in Lenexa, KS totaling 367 units. Both communities benefit from their visibility along 87<sup>th</sup> Street, Lenexa’s primary retail and commercial corridor.&#160; Madison Woodlands contains 116 units and is conveniently located just off I-435 in South Kansas City, MO near Cerner Corp.’s 4.7-million-sq-ft, $4.5-billion Innovation Campus which is expected to generate 16,000 new jobs over the next decade. In addition to a mix of well-designed one and two-bedroom units, the communities offer residents a host of amenities including outdoor pools, tennis court, beach volleyball court, fitness center, and resident clubhouses.</p> <p>The Seller was represented by Jeff Stingley of CBRE’s Kansas City office.&#160;</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 43 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/">www.equuspartners.com</a>.</p> <p><strong>For additional information on the company, please contact:</strong><br /> Joseph G. Nahas, Jr., CRE, Senior Vice President, (215) 575-2363</p> <p><strong>For additional information on the transaction, please contact: <br /> </strong> Greg Curci, Vice President, (215) 575-2307 or <a href="mailto:gcurci@equuspartners.com">gcurci@equuspartners.com</a><br /></p> </body> </html>