ATLANTA—Equus Capital Partners is getting busy in the fourth quarter. The private equity real estate fund managers just snapped up a 288-unit multifamily community in Atlanta. The Clairmont acquisition comes just days after the firm bought a 376-unit multifamily project in St. Louis.
“The transaction provided us with an opportunity to acquire a well located multifamily community in the growing and dynamic Atlanta market,” says Steve Pogarsky, vice president of Equus, who oversaw the acquisition for the firm. “We continue to seek opportunities to expand our portfolio with strategically located assets in primary and secondary markets nationwide.”
The Clairmont, which will be renamed Madison Brookhaven, is about 95% occupied. Madison Apartment Group, the multifamily operating arm of Equus, will manage the garden style community, which includes a mix of one- and two-bedroom apartments.
Madison Brookhaven sits in an in-fill location less than five miles east of Buckhead in the suburban Atlanta community of Brookhaven. The multifamily community is located half a mile from the Clairmont Road interchange of Interstate 85 and near Emory University and the Centers for Disease Control.
Equus plans to invest about $3 million to rebrand and upgrade the multifamily asset. The acquisition of Madison Brookhaven was made on behalf of BPG Investment Partnership IX, L.P. (Fund IX), a discretionary fund Equus manages. The firm declined to disclose the purchase price.
Meanwhile, Madison broke ground on Madison Providence, a 240-unit class A property within one half mile of the intersection of Routes 422 and 29, in late October. And on the
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
