Press Releases

EQUUS ANNOUNCES THE SALE OF MADISON CHESTNUT HILL AND MADISON NORTHWOODS IN MIDDLETOWN, CT

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><img src="/media/080b2fe8-2d78-4e54-a8f2-eca4d6fe1f7c/Press Releases/2016_1-18_Madison Northwoods Sale/1_Chestnut Hill Sale_1-18-2016/Northwood_Chestnut Hill_png" /></p> <p><strong>Middletown, CT. – January 15, 2016</strong> – Equus Capital Partners, Ltd. (Equus), one of the nation’s leading private equity fund managers, announced today the sale of Madison Chestnut Hill and Madison Northwoods. The 650-unit apartment portfolio is located in Middletown, CT, 15 miles south of downtown Hartford. The two-property portfolio was sold to Hampshire Properties.&#160; At the time of the sale, the communities were 95 percent occupied.</p> <p>“This offering presented investors with a rare opportunity to acquire a critical mass of well-maintained&#160; units across two complementary properties in a desirable bedroom community in New England.” commented Greg Curci, Vice President of Equus who was responsible for overseeing the disposition for the firm.</p> <p>The Seller was represented by Victor Nolletti and Steve Witten of Institutional Property Advisors.</p> <p>Built in 1986, the two properties are situated directly across from each other in the Westlake neighborhood of Middletown, CT. The properties are located 1 mile from the entrance to I-91 and benefit from their convenient access to both Hartford and New Haven employers. &#160;The garden style apartment communities offer a diverse mix of one, two, and three bedroom apartments in a low-density and attractive setting. All apartments include in-unit washers and dryers and patios or balconies, and select units offer fireplaces and vaulted ceilings.&#160; Community amenities include outdoor swimming pools, tennis and indoor racquetball courts, fitness centers, playground, and a nature trail.</p> <p>An affiliate of Equus acquired Madison Chestnut Hill and Madison Northwoods from AIMCO in 2008 as part of a three-property portfolio.&#160; The transaction was made on behalf of BPG Investment Partnership VIII and VIII A, L.P., a $550 million private equity fund managed by Equus.</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 over 17 million square-feet of office, retail, and industrial properties and approximately 12,000 apartment units in 50 communities located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Los Angeles, Chicago, 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>