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Equus Capital divests $467M portfolio of 22 Pa. assets

Equus Capital Partners Ltd. wrapped up the sale of 3,426 units included in a 22-property, value-add multihousing portfolio across Pennsylvania for $467 million.

HFF Inc. served as the marketing agent for the properties that were sold in six sub-portfolios to a variety of investors ranging from small private groups to large institutions. The company, which placed its first sub-portfolio on the block less than a year ago, raked in 68 offers for the assets throughout 2017. It closed on its final sale of a seven-property apartment portfolio in Harrisburg and Allentown, Pa., at the end of September.

Properties included in the portfolio range between 50 units and 400 units across suburban Philadelphia, Lancaster, Harrisburg, Wyomissing, Lehigh Valley and northeastern Pennsylvania.

Meanwhile, the broker also provided acquisition financing services to the buyers on a number of transactions.