{"id":1004127396,"date":"2015-09-14T20:39:13","date_gmt":"2015-09-15T04:39:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004127396"},"modified":"2020-05-12T00:27:03","modified_gmt":"2020-05-12T08:27:03","slug":"equus-affiliate-sets-precedent-in-philadelphia","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/equus-affiliate-sets-precedent-in-philadelphia\/","title":{"rendered":"Equus Affiliate Sets Precedent in Philadelphia"},"content":{"rendered":"

By Adriana Pop, Associate Editor<\/em><\/p>\n

Equus Capital Partners<\/a> has announced that its latest discretionary fund, Equus Investment Partnership X L.P., recently paid $42 million for the acquisition of Hill House Apartments<\/a>, a 188-unit multifamily community located in the Chestnut Hill neighborhood of Philadelphia. The transaction marks the first multifamily investment for Equus Capital\u2019s new affiliate.<\/p>\n

\"Hill<\/a><\/p>\n

Conveniently located next to SEPTA\u2019s Chestnut Hill West regional rail station and Germantown Avenue, the iconic Hill House high-rise was 95 percent occupied at the time of closing. The 11-story property offers a mix of studio, one-, two-, and three-bedroom apartments, along with an array of amenities including underground parking, fitness center, and outdoor pool.<\/p>\n

Residents have easy access to Chestnut Hill\u2019s upscale retail and restaurant corridor, center city Philadelphia and major suburban employment centers in Montgomery County. Equus now plans to invest approximately $5 million into the renovation of the property\u2019s common areas and amenities, as well as to complete the unit interior upgrades that were initiated under prior ownership.<\/p>\n

Madison Apartment Group<\/a> L.P., the multifamily operating arm of Equus, will manage the community. Prior to the sale, the property had been owned and managed by the family of the original developer, which remained undisclosed, and was represented in the transaction by Rittenhouse Realty Advisors<\/a>.<\/p>\n

\u201cThis community appeals in equal measure to both younger residents and empty nesters who value convenience, walkable amenities, and a desirable and safe neighborhood,\u201d Greg Curci, vice president of Equus, who oversaw the acquisition for the firm, said in prepared remarks. \u201cWe look forward to delivering a living experience consistent with the heightened expectations of today\u2019s renter.\u201d<\/p>\n

Equus Capital Partners Ltd. is one of the nation\u2019s leading private equity real estate fund managers. Equus\u2019 portfolio consists of more than 24 million square feet of office, retail, and industrial properties and nearly 16,000 apartment units in over 60 multifamily communities located throughout the United States. The firm is headquartered in the Philadelphia area, with a principal office in Yardley, Pa., and with offices in Philadelphia, Los Angeles, Chicago, Washington D.C., Boston, Atlanta, and Raleigh-Durham.<\/p>\n","protected":false},"excerpt":{"rendered":"

The private equity fund manager is breaking new ground in the City of Brotherly Love.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1494],"tags":[],"class_list":["post-1004127396","post","type-post","status-publish","format-standard","hentry","category-philadelphia"],"acf":[],"yoast_head":"\nEquus Affiliate Sets Precedent in Philadelphia - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/equus-affiliate-sets-precedent-in-philadelphia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Equus Affiliate Sets Precedent in Philadelphia\" \/>\n<meta property=\"og:description\" content=\"The private equity fund manager is breaking new ground in the City of Brotherly Love.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/equus-affiliate-sets-precedent-in-philadelphia\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-15T04:39:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-12T08:27:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Hill-House-Apartments-in-Philadelphia-Pa..jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equus-affiliate-sets-precedent-in-philadelphia\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equus-affiliate-sets-precedent-in-philadelphia\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Equus Affiliate Sets Precedent in Philadelphia\",\"datePublished\":\"2015-09-15T04:39:13+00:00\",\"dateModified\":\"2020-05-12T08:27:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equus-affiliate-sets-precedent-in-philadelphia\\\/\"},\"wordCount\":353,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equus-affiliate-sets-precedent-in-philadelphia\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/09\\\/Hill-House-Apartments-in-Philadelphia-Pa..jpg\",\"articleSection\":[\"Philadelphia\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equus-affiliate-sets-precedent-in-philadelphia\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equus-affiliate-sets-precedent-in-philadelphia\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equus-affiliate-sets-precedent-in-philadelphia\\\/\",\"name\":\"Equus Affiliate Sets Precedent in Philadelphia - 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