Friday, March 16, 2018

Equus snaps up seven suburban office buildings from Liberty Property Trust for $92M

by Jacob Adelman Philadelphia Inquirer
Equus Capital Partners Ltd. has acquired a portfolio of seven office buildings along U.S. Route 202 in Montgomery, Delaware and Chester counties in Philadelphia’s western suburbs from Liberty Property Trust.

Equus, based in Yardley, paid $92 million for the properties that encompass 593,000 square feet, it said in a statement Thursday.

The portfolio consists of 440-460 E. Swedesford Rd. in Wayne; 300, 400, and 500 Chesterfield Pkwy. and 45 Liberty Blvd. in Malvern; and 2100 and 2201 Renaissance Blvd. in King of Prussia.

The properties are among the suburban assets that Malvern-based Liberty said last month that it planned to sell to focus on its core industrial and city-center office holdings.

The purchase follows Equus’s 2015 acquisition of the 247,294-square-foot Bay Colony Executive Park office complex, also along Route 202 in Wayne, from Brandywine Realty Trust.

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