7-28-17

M id A tlantic Real Estate Journal — Owners, Developers & Managers — July 28 - August 10, 2017 — 5B

www.marejournal.com

O wners , D evelopers & M anagers White and Marshall of ARA represent seller Equus sells 676-unit apartment portfolio in Fredericksburg, VA for $100.5 million

HILADELPHIA, PA — Equus Capital Part- ners, Ltd. (Equus) , one of the nation’s leading private equity fund managers, an- nounced today the sale of Madi- son England Run and Madison Falls Run in Fredericksburg, VA. The 676-unit apartment portfolio was sold to Virginia based Chandler Management for $100,500,000. At the time of the sale the properties were over 95 percent occupied. An affiliate of Equus acquired the properties in 2012 on behalf Benchmark Construction adds new team members Brownstown, PA — Benchmark Construction has hired Tanner Edgell, P

appetites turn towards subur- ban assets in locations exhibit- ing compelling population and job growth.” Madison England Run con- sists of 476 units and was built in phases between 1991 and 2001. Madison Falls Run was built in 1989 and consists of 200 units. Each community offers a robust amenity package with an on-site fitness center, out - door pools, tennis courts, busi- ness centers, and playgrounds. The seller was represented by Drew White and Mike Marshall of ARA . n

of BPG Investment Partner- ship IX, L.P. , a $310 million private equity fund managed by Equus. Immediately upon acquisition Equus spent $3 mil- lion in capital improvements to enhance the communities’ amenities and curb appeal while assuming control of the on-site management. “Investor demand for well- maintained and profession- ally managed apartment com- munities remains robust,” commented Greg Curci , vice president of Equus, who over- saw the disposition for the firm. “Increasingly, we see investors’

Madison Falls Run

What’s lining your cloud?

Cory Mosco, Alex Ret- tinger and Grant Wil- cox as assis- tant project managers. In this role, they will be responsible for assisting project man- agers with overseeing the daily op- erations of select proj- ects which includes co- ordinating field and ad - ministrative activities as well as ensur- ing all parties involved in the construc- tion process are working to serve the clients’ best interests. Edgell is a

Tanner Edgell

Cory Mosco

Alex Rettinger

recent gradu- ate of Mill- ersville Uni- versity with a bachelor’s degree in Construction Man- agement. Mosco and Wilcox are recent graduates of Penn State Uni- versity with bachelor’s degrees in Architectural Engineering. Rettinger graduated from Penn State University with a Bachelor of Structural Design and Construction Engineering Technology (SDCET), Construc- tion Management degree. n Grant Wilcox

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