PHILADELPHIA—Equus Capital Partners has acquired Hill House Apartments, a 188 unit high-rise multi-family community in the Chestnut Hill neighborhood of Philadelphia, for $42 million.
The property was 95 percent occupied at the time of closing. It's the first multi-family investment for Equus Investment Partnership X, the latest discretionary fund managed by Equus. Madison Apartment Group, the multi-family operating arm of Equus, will manage the community.
Hill House is conveniently located adjacent to SEPTA's Chestnut Hill West regional rail station and Germantown Avenue, in the heart of Chestnut Hill's upscale retail and restaurant corridor. The iconic high-rise benefits from a diverse unit mix of studios, one, two, and three bedroom apartments, while offering an array of on-site amenities including underbuilding parking, fitness center, and outdoor pool. Boasting views of the Center City Philadelphia skyline and Fairmount Park, Hill House's Chestnut Hill location provides convenient access to both center city Philadelphia and major suburban employment centers in Montgomery County.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
