Natalie Kostelni Reporter Philadelphia Business Journal
Equus Capital Partners Ltd. has closed on a nearly $1 billion acquisition of a portfolio of 75 buildings totaling 5.4 million square feet across several key industrial markets.
The Newtown Square real estate firm bought the buildings from Prologis Inc., and most of the properties – about 80% — were once owned by Liberty Property Trust, according to those familiar with the transaction. Prologis bought Liberty, which had been based in Malvern, in early 2020.
The Equus-Prologis deal, inked at a little more than $900 million, is the third billion-dollar deal Equus has completed in less than a year.
In October, it closed on the $1.15 billion acquisition of a portfolio of 74 buildings totaling about 7.3 million square feet in Phoenix and Tucson. Last spring, Equus was involved with AIG in a $1 billion recapitalization of an industrial portfolio.
When it came to the Arizona acquisition, referred to by the firm as the Pegasus Project, Equus tapped its $500 million value-add fund, Equus Investment Partnership XII L.P., as well as a $200 million separate co-investment it raised.
Full story: https://tinyurl.com/58bnhpbd
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