Equus Capital Partners has finalized the disposition of a 22-property multi family portfolio for a combined sales price of $467 million. The 3,426 unit assemblage is spread across suburban Philadelphia, Lancaster, Harrisburg, Wyomissing, Lehigh Valley and northeastern Pennsylvania. Holliday Fenoglio Fowler represented the seller, helping it divide the assets into six sub-portfolios and finding different buyers for each over the course of 2017. The final closing was achieved at the end of September. Additionally, the HFF team worked on behalf of the new owners on a number of the transactions to secure acquisition financing.
“We are very pleased that we were able to successfully market and close all 22 properties within a year of launching the first sub-portfolio,” said senior managing director Mark Thomson, HFF. “The properties offered diversity of size, ranging from 50 units to 400 units; vintage, ranging from the early 1960s through the mid-2000s. We conducted 113 tours, which resulted in 68 offers.”
