Suburban Philly Apartments Sell for $65M

Equus Capital Partners has announced the disposition of a multifamily asset in suburban Philadelphia.

In a $65 million deal, Equus Capital Partners, Ltd. sold the Madison Hunt Club apartments in North Wales, Pa. to Paradise Property of Huntingdon Valley.

Madison Hunt Club in North Wales, Pa.

Madison Hunt Club in North Wales, Pa.

The 320-unit garden-style apartment community is located 20 miles north of downtown Philadelphia and less than half a mile from the entrance to the 309 Expressway.

Madison Hunt Club offers a diverse mix of one-, two-, and three-bedroom homes in a low-density and attractive setting. All units have private entrances, full-size washers and dryers, and patios or balconies. Residents have access to an array of amenities including an outdoor swimming pool, tennis and basketball courts, fitness center, playground, and a nature trail.

The property was 96 percent occupied at the time of sale. Erin Miller of JLL represented Equus in the transaction.

“Madison Hunt Club’s convenient and irreplaceable infill location within immediate proximity to such desirable retail amenities as Whole Foods and Trader Joes resulted in extraordinary investor interest in this community,” commented Greg Curci, vice president of Equus, who was responsible for overseeing the disposition for the firm.

An affiliate of Equus acquired Madison Hunt Club from AIMCO in 2008 as part of a three-property portfolio. The transaction was made on behalf of BPG Investment Partnership VIII, L.P., a $550 million private equity fund.

Photo credits: Equus Capital Partners