Press Releases

EQUUS ANNOUNCES THE SALE OF MADISON PARK BUTTERFIELD IN MUNDELEIN, IL

<html xmlns="http://www.w3.org/1999/xhtml"> <head></head> <body> <p><img src="/media/fca8cd7c-78fa-45cc-a454-8accd22b2892/Press Releases/2017_9-12_Park Butterfield Sale_9-12-2017/Park Butterfield_Web_jpg" /></p> <p><strong>PHILADELPHIA, PA. – September 11, 2017</strong>&#160;– Equus Capital Partners, Ltd. (Equus), one of the nation’s leading private equity fund managers, announced today the sale of Madison Park Butterfield in Mundelein, IL.&#160; The 522-unit apartment community was sold to Chicago-based TLC Management for $80,000,000.&#160; At the time of the sale, the community was 96% occupied.</p> <p>“This asset’s strong operating history paired with its desirable location within a major metropolitan area proved an appealing combination to the investment community” commented Pete Naccarato who was responsible for overseeing the disposition for Equus.</p> <p>The seller was represented by Dan Cohen and MJ Zaring of CBRE.</p> <p>Madison Park Butterfield is located approximately 35 miles north of downtown Chicago within Lake County, an area home to several Fortune 500 companies including Walgreens, Mondelez International, and Abbot Laboratories.&#160; The property sits within five miles of I-94 allowing for convenient access to major employers throughout the Chicago MSA.&#160; Further, residents at the property are only a short ride to an abundance of retail options at the nearby Hawthorne Mall and Milwaukee Avenue retail corridor.</p> <p>The garden style apartment community offers residents a mix of studio, one, and two bedroom units.&#160; Community amenities on site include a pool with sundeck, spacious courtyards, and an expansive clubhouse that features a resident lounge, movie theater, fitness center, and cyber café.</p> <p>An affiliate of Equus acquired Madison Park Butterfield in 2007 from the Laramar Group.&#160; The transaction was originally made on behalf of BPG Investment Partnership VII, L.P., a $550 million private equity fund managed by Equus.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’ diversified portfolio consists of office, multi-family, industrial, and retail properties 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&#160;<a href="http://www.equuspartners.com/">www.equuspartners.com</a>.</p> <p><strong>For additional information about the company, please contact:</strong><br /> Joseph G. Nahas, Jr., CRE, Senior Vice President<br /> (215) 575-2363 or visit&#160;<a href="http://www.equuspartners.com/">www.equuspartners.com</a></p> <p><strong>For additional information on the transaction, please contact:&#160;</strong> <strong><br /> </strong> Pete Naccarato, Financial Analyst<br /> (215) 575-2305 or&#160;<a href="mailto:pnaccarato@equuspartners.com">pnaccarato@equuspartners.com</a></p> </body> </html>