Business Real Estate Weekly by Rose Law Group
Scottsdale – Companies formed by Equus Capital Partners Ltd. in Philadelphia, Pa. (Daniel DiLella, pres.) paid $44.15 million ($197.87 per foot blended average) to buy 223,131 sq. ft. of office space in two properties in Scottsdale. The sellers in two separate transactions were non-profit pension fund trusts managed by Lincoln Property Co. in Chicago, Ill. The deal was brokered through Barry Gabel and Chris Marchildon of CBRE in Phoenix, along with Kevin Shannon, Ken White and Michael Moore of CBRE in Los Angeles, Calif. Equus Capital Partners, formerly known as BPG Properties Ltd., is a private equity fund real estate manager with $4 + billion of assets under its management. The firm’s current portfolio includes 24 + million sq. ft. of office, industrial and retail properties and almost 17,000 apartment units located across the country. The Scottsdale office acquisitions were made on behalf of BPG Investment Partnership IX L.P., Equus’ $310 million private equity fund (Fund IX). Continued
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