4A — February 12 - 25, 2016 — M id A tlantic
Real Estate Journal
M id A tlantic R eal E state J ournal For thoseworking in land, property, const.&infrastructure 60+ professional bodies launch a global consultation on ethics N EW YORK, NY — A coalition of more than 60 professional bodies to submit their feedback on the new International Ethics Standards. related professions will help to bring greater transparency and consistency to global prop- erty markets.
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Tony Grant , past FIABCI world president and deputy chair of the IES Coalition explained: “The new standard has been written by a group of independent industry leaders and international ethics and compliance experts appointed by Trustees of the IES Coali- tion. Included in the group are prominent real estate representatives from Russia, China, France, the USA, Ger- many, Brazil, Japan, Malay- sia, Canada and the UK. The IES Coalition is organising this three-month consultation to ensure that the final version is high quality, understood and accepted by all participating organisations, practitioners and their clients. Relevant organisations and individu- als throughout the world are invited to respond.” n EQUUS announces sale of Madison River Place PHILADELPHIA, PA — Equus Capital Partners, Ltd. (Equus) , one of the na- tion’s leading private equity fund managers, announced the sale of Madison River Place in Macon, GA. The 240- unit apartment community was sold to Mullberry Proper- ties, LLC for $14.525 million. At the time of the sale the community was 95% occupied. “We received twenty written offers for this well-maintained community that presented investors with a stable and at- tractive yield proposition,” said Greg Curci , VP of Equus who was responsible for overseeing the disposition for the firm. The seller was represented by Robert Stickel of Multi Housing Advisors . Built in 1988, the community is situated within the desir- able North Macon Submarket where it benefits from conve- nient access to I-75. The gar- den-style apartment commu- nity offers a diverse mix of one and two bedroom apartments. Community amenities include a swimming pool, fitness cen- ter, tennis and beach volleyball courts, and playground. An affiliate of Equus ac- quired Madison River Place in 2004 from a publicly traded REIT as part of a six-property portfolio. The transaction was made on behalf of BPG Invest- ment Partnership VI, LP. n
and standards setting organi- zations worldwide, launched a global consultation on ethics principles for those working in land, property, construction and infrastructure. Property and the built en- vironment play a huge role in our lives as well as being a major contributor to the economy worldwide. Ethics guides the behavior of property professionals and builds trust in the profession. Producing one set of International Ethics Standards for real estate and
“ FIABCI is enthusiastically supporting the introduction of new ethical and professional standards which will provide structure, clarity, greater re- sponsibility and value within the real estate and real estate- related industries,” said Dani- elle Grossenbacher , FIABCI World President. Collectively representing many hundreds of thousands of professional practitioners, the IES Coalition is calling on those in the built environment
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