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Equus Sells 264-Unit Apartment Community in Hatfield, Pennsylvania, for $38.5M

HATFIELD, PA. — Equus Capital Partners has completed the sale of Madison Montgomery, an apartment community located in Hatfield. Morgan Properties purchased the 264-unit asset for $38.5 million. An affiliate of Equus acquired the 1969-built property in 2007 out of receivership from the prior owners. Upon acquisition, the company launched a $17 million interior and exterior renovation program, including the construction of a 4,000-square-foot clubhouse and leasing center, a resort-style swimming pool and outdoor grilling area. Lizann McGowan, Bob Miller and John McFadden of CBRE represented the seller in the transaction.

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