Equus Capital Partners closes $310 million private equity real estate fund

Equus Capital Partners, Ltd. has closed BPG Investment Partnership IX, L.P. (Fund IX), with equity investments totaling $310 million. Fund IX officially closed on December 13th, 2013 and is targeting value-added office, multifamily, industrial and retail investments located in major metropolitan centers throughout the U.S. "The response has been very positive, with investor commitments exceeding our $250 million goal by 24%," said Joseph Nahas, Jr., senior vice president, institutional marketing and investor relations, of Equus. Over the last 20 years, Equus has raised $3 billion of discretionary equity through the formation of nine co-mingled, closed end funds and one co-investment fund. Fund IX investors include pension funds, endowments, foundations, Taft-Hartley plans and high net worth individuals. "Equus' investment strategy for Fund IX mirrors the successful approach we employed for our 10 prior funds on a nimble, entrepreneurial scale that reflects the current real estate environment," said Daniel DiLella, president and chief executive officer of Equus. "We will continue to seek investments where we add value through our proven direct operating platform that has consistently delivered excellent returns for our investors." Fund IX has already invested $83 million across nine properties in a diverse portfolio that includes multifamily, office, lab and industrial properties located in the East, Midwest and Southwest regions of the United States. Since the time of acquisition, Equus has increased occupancy from 86 percent to 95% across the portfolio. The latest investment was the acquisition of Meridian Corporate Plaza (MCP), a three-building, 329,546 s/f class A office park located in Carmel, a suburb of Indianapolis, Indiana. Locally, Equus has owned and operated in excess of 2.7 million square feet in the Boston market and continues to own and operate approximately 850,000 square feet of office/industrial and 650 multi-family units in the New England region.