Equus Capital Partners has six new communities under its name. The real estate investment manager acquired Project Big Timber, which is six garden-style properties in the Atlanta, Philadelphia, Raliegh, N.C., and St. Louis markets totaling 1,249 units.
“The acquisition of the Big Timber Portfolio enables the partnership to acquire a collection of high-quality assets with proximity to dynamic social and business infrastructure in their respective metropolitan areas,” said Kyle Turner, Partner and Director of Investments of Equus, in a release.
The company will invest to upgrade the interiors and exteriors with enhancements to common area amenities as well. Units average nearly 1,000 square feet, and the portfolio was 94% rented. Madison Apartment Group will manage and oversee the upgrades to properties.