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ALLENTOWN, PA. — Equus Investment Partnership X, an affiliate of Equus Capital Partners, has acquired The Lakes Apartments, a multifamily property located in the West End neighborhood of Allentown, for an undisclosed price. The 235-unit property was 95 percent occupied at the time of closing. The property features a mix of one-, two-, three-bedroom flat and townhome units, an outdoor swimming pool, tennis court and walking trail. Equus plans to invest $2.5 million to improve the common areas and amenities, as well as to complete unit upgrades that were begun under prior ownership. Madison Apartment Group will manage the community.