Press Releases

EQUUS SELLS DOWNTOWN CHICAGO STUDENT HOUSING FOR $58,500,000

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><strong>CHICAGO, IL. – (April 4, 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 the sale of 2 East 8th Street, a 330 unit student housing facility in Chicago, Illinois for $58,500,000. The purchaser was a joint venture between Atlas Real Estate Partners, Marc Real Residential and Angelo, Gordon and Co.&#160; Located in the heart of Chicago's South Loop, the 28-story high rise facility is proximate to Columbia College, Roosevelt University and more than 20 other schools. It offers 882 beds and includes 20,000 square feet of first floor retail and a four-story parking garage. At the time of sale, the property was 96 percent leased.<br /><br />“The stability provided by the recently executed master lease for 60 percent of the beds with Columbia College resulted in strong investor interest for this unique and well located urban student housing community,” commented Greg Curci, vice president at Equus who was responsible for overseeing the disposition.<br /><br />The Seller was represented by Chris Bancroft and Chris Epp of ARA Student Housing Group and Susan Lawson and Todd Stofflet of ARA Chicago.<br />An affiliate of Equus acquired 2 East 8th Street as part of a three property portfolio in 2003. The transaction was made on behalf of BPG Investment Partnership Fund VI, L.P., a $384 private equity fund.&#160; In 2005, Equus completed the conversion of the property from a conventional high-rise apartment building to a student housing facility<br /><br /><strong>About Equus Capital Partners, Ltd.</strong><br />Equus Capital Partners, formerly BPG Properties, 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 nearly 18,000 apartment units in over 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>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 />Greg Curci, Vice President, 215-575-2307<br /><br /></p> </body> </html>