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Equus Capital Partners Acquires Multifamily Portfolio Across Four Cities For $220M

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SOLD
$220,000,000

National

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MultiFamily
Sold 03/14/2024
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SOLD

Equus Capital Partners Acquires Multifamily Portfolio Across Four Cities For $220M

MultiFamily
Sold 03/14/2024
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Summary

Asset Type:MultiFamily
Transaction Type:Sale

The Multifamily Portfolio, located across Atlanta, Philadelphia, Raleigh, & St. Louis, was sold for $220,000,000. The portfolio consists of 1,249 units, with a price per unit of $176,141. The acquisition was made by Equus Capital Partners, Ltd., along with Kyle Turner, Laura Brestelli, Andrew Holloway, Alex Keszeli, and Alex Mazur.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $220,000,000
  • Units: 1,249
  • Price Per Unit: $176,141
  • Market: Atlanta, Philadelphia, Raleigh & St. Louis
  • Buyer: Kyle Turner, Laura Brestelli, Andrew Holloway, Alex Keszeli & Alex Mazur - Equus Capital Partners, Ltd
  • Lender: Fannie Mae
  • Mortgage Brokers: Kippy Donovan & Steve Comly - Newmark

Focusing on the key individuals behind the deal, Equus Capital Partners, Ltd. acquired the multi-family portfolio with a US public pension plan. Madison Apartment Group LP is set to manage the property upgrades and operations, underlining strategic investments in growing markets. The transaction was facilitated by financing assistance from Newmark's Debt Capital Markets, provided by Kippy Donovan and Steve Comly.

Players

Steve Comly
3 deals$304.3M volume(267) 603-8499
BROKER

Kippy Donovan
Newmark
2 deals$286.7M volume(267) 606-0839
BROKER

Fannie Mae
LENDER

Details

SOLD
IMAGE: Kyle Turner, Laura Brestelli, Andrew Holloway, Alex Keszeli, Alex Mazur, Kippy Donovan & Steve Comly DATE: 03/17/2024 ADDRESS: Multifamily Portfolio MARKET: Atlanta, Philadelphia, Raleigh & St. Louis ASSET TYPE: Multifamily BUYER: Kyle Turner, Laura Brestelli, Andrew Holloway, Alex Keszeli & Alex Mazur - Equus Capital Partners, Ltd LENDER: Fannie Mae (@OfficialFannieMae) MORTGAGE BROKERS: Kippy Donovan & Steve Comly - Newmark (@Newmark) SALE PRICE: $220,000,000 UNITS: 1,249 ~ PPU: $176,141 NOTE: Equus Capital Partners, Ltd. acquired Project Big Timber, a 1,249-unit multi-family portfolio across four cities for $220 million with a US public pension plan. Madison Apartment Group LP will handle upgrades and management, emphasizing strategic investment in growth markets, facilitated by Equus's team with financing assistance from Newmark's Debt Capital Markets.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$11,733,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$781,613.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,042,912.24
Annual Debt Service$12,514,946.87