Equus Capital Partners has sold a Pennsylvania-based 22-property multi-housing portfolio for $467 million. The buyers were not named. Holliday Fenoglio Fowler represented the seller on the deal.
PHILADELPHIA–(BUSINESS WIRE)–Holliday Fenoglio Fowler, L.P. (HFF) announces the $467 million sale of a 22-property, value-add multi-housing portfolio totaling 3,426 units in various Pennsylvania locations.
The HFF team marketed the properties in six sub-portfolios on behalf of the seller, Equus Capital Partners, Ltd. The properties sold in phases to different buyers throughout 2017 with the most recent closing at the end of September. Additionally, the HFF team worked on behalf of the new owners on a number of the transactions to secure acquisition financing. Property locations include suburban Philadelphia, Lancaster, Harrisburg, Wyomissing, Lehigh Valley and northeastern Pennsylvania.
The HFF investment sales team representing the seller included senior managing director Mark Thomson and directors Carl Fiebig and Francis Coyne along with senior managing director Jose Cruz and executive managing director Matthew Lawton.
“We are very pleased that we were able to successfully market and close all 22 properties within a year of launching the first sub-portfolio,” Thomson said. “The properties offered diversity of size, ranging from 50 units to 400 units; vintage, ranging from the early 1960s through the mid-2000s; and locations throughout the eastern half of Pennsylvania, from Harrisburg through suburban Philadelphia and into the Lehigh Valley.”
“Each of the 22 properties within the portfolio generated significant interest and attracted a variety of investors, from small private groups to large institutions,” Thomson continued. “We conducted 113 tours, which resulted in 68 offers throughout the process.”
About Equus Capital Partners, Ltd.
Equus Capital Partners, Ltd. (“Equus”) is one of the nation’s leading private equity real estate fund managers. 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 www.equuspartners.com.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.