Equus Sells Off Suburban Multifamily Property

Madison Seven Trails in Ballwin, MO, one of the many multifamily properties recently sold by Equus in the region.

ST. LOUIS—Equus Capital Partners, Ltd. has just sold off another of the many multifamily properties it bought in the years just before the recession. The Philadelphia-based private equity fund manager sold the 532-unit Madison Seven Trails in Ballwin, MO, a St. Louis suburb, for $51 million to Monarch Investment & Management Group. At the time of the sale the community was more than 95% occupied.

“We’ve been an owner of multifamily in the St. Louis suburbs since 2006 and still own over 1,000 units across three properties,” Greg Curci, the vice president of Equus who oversaw the disposition, tells GlobeSt.com. “We hope to continue to build our St. Louis portfolio as we view the region’s recent job growth and attractive quality of life as harbingers of consistent rent growth going forward. Additionally, with 85% of St. Louis apartments being over 25 years old, there are an abundance of attractive value-add upgrade opportunities throughout the region.”