Press Releases

EQUUS ANNOUNCES SALE OF MADISON LAKE GIBSON IN LAKELAND, FL FOR $11,960,000

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><strong>PHILADELPHIA, PA. – (September 11, 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 Madison Lake Gibson, a 220 unit garden style apartment community in Lakeland, Florida, for $11,960,000 to Blue Rock Partners.&#160; Located on the shores of Lake Gibson, the garden style community is just 1 mile north of Interstate 4 on the north side of Lakeland. It offers one and two bedroom apartments and includes a clubhouse with fitness center, pool, tennis court and private boat dock. At the time of the sale, the community was 95 percent leased.<br /></p> <p>“The continued resurgence of&#160; investor demand for assets in markets throughout Florida presented us with a natural opportunity to sell Madison Lake Gibson at favorable terms for our investors,” commented Greg Curci, vice president at Equus who was responsible for overseeing the disposition.<br /></p> <p>The Seller was represented by Luis Elorza and Byron Moger of Cushman &amp; Wakefield.<br /></p> <p>An affiliate of Equus acquired Madison Lake Gibson in 2001 as part of a 12 property, five state portfolio located throughout the Southeast U.S.&#160; The transaction was made on behalf of BPG Investment Partnership Fund V, L.P., a $225,000,000 private equity fund.&#160; The disposition also included an adjoining 8.5 acres of developable land.<br /></p> <p><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 more than 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 /></p> <p><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>