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Equus Realty Completes Turnaround, Sells Office Complex

SAN DIEGO-Equus purchased the property in 1996 for $5.4 million with $4.95 million of secured debt provided by GE Capital. It just sold for $16 million, giving investors received a 300% return over six years.

By Randyl J. Drummer | Updated on July 10, 2002

SAN DIEGO-Equus Realty Advisors Inc. has turned around a 106,000-sf, three building office complex in a deal valued at more than $16 million.

Equus says it has sold the office/R&D complex located at 9173, 9174 and 9177 SkyPark Court in Kearny Mesa to an affiliate of HRPT Properties Trust, a real estate investment trust.

Equus purchased the property in 1996 for $5.4 million with $4.95 million of secured debt provided by GE Capital. Investors received a 300% return over six years.

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