Equus Capital Partners Sells VA Apartment Portfolio for $100.5M

Equus Capital Partners, Ltd. (“Equus”), one of the nation’s leading private equity fund managers, announced today the sale of Madison England Run and Madison Falls Run in Fredericksburg, VA. The 676-unit apartment portfolio was sold to Virginia based Chandler Management for $100,500,000. At the time of the sale the properties were over 95 percent occupied.

An affiliate of Equus acquired the properties in 2012 on behalf of BPG Investment Partnership IX, L.P., a $310 million private equity fund managed by Equus. Immediately upon acquisition Equus spent $3 million in capital improvements to enhance the communities’ amenities and curb appeal while assuming control of the on-site management.

“Investor demand for well-maintained and professionally managed apartment communities remains robust,” commented Greg Curci, Vice President of Equus, who oversaw the disposition for the firm. “Increasingly, we see investors’ appetites turn towards suburban assets in locations exhibiting compelling population and job growth.”

The communities are located approximately 1 mile from each other along the Route 17 corridor in Stafford County and benefit from an abundance of retail and dining amenities as well as their proximity to Interstate 95 providing direct access to Washington D.C. Madison England Run consists of 476 units and was built in phases between 1991 and 2001. Madison Falls Run was built in 1989 and consists of 200 units. Each community offers a robust amenity package with on-site fitness center, outdoor pools, tennis courts, business centers, and playgrounds. The portfolio offers a diverse mix of twelve unique and attractive floorplans including spacious three-bedroom apartment homes.
The Seller was represented by Drew White and Mike Marshall of ARA.
About Equus Capital Partners, Ltd.
Equus Capital Partners is one of the nation’s leading private equity real estate fund managers. 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 www.equuspartners.com.

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