M id A tlantic Real Estate Journal — Owners, Developers & Managers — July 28 - August 10, 2017 — 5B
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 P Benchmark Construction adds new teammembers Brownstown, PA — Benchmark Construction has hired Tanner Edgell,
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
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CoryMosco, A l ex Re t - tinger and Grant Wil- cox as assis- tant project ma n a g e r s . In this role, they will be responsible for assisting project man- age r s wi th o v e r s e e i ng the daily op- erat i ons o f select proj- e c t s wh i ch includes co- o r d i n a t i n g 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
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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