by Steve Lubetkin, Globest.com
Equus Capital Partners sold a 22-property, value-add multi-housing portfolio totaling 3,426 units in various Pennsylvania locations for $467 million. Holliday Fenoglio Fowler marketed the properties in six sub-portfolios on behalf of Equus.
“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. 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.”
The properties sold in phases to different buyers throughout 2017, with the most recent closing at the end of September. Property locations include suburban Philadelphia, Lancaster, Harrisburg, Wyomissing, Lehigh Valley and northeastern Pennsylvania.
“Each of the 22 properties within the portfolio generated significant interest and attracted a variety of investors, from small private groups to large institutions. We conducted 113 tours, which resulted in 68 offers throughout the process.”
www.omegare.com
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