Regions Midatlantic | Philadephia
Nov 14, 2008
BPG Properties Ltd has completed the second phase of a three property multi-family portfolio acquisition from a publicly-traded REIT. This phase included the acquisition of Hunt Club, a 320-unit, multi-family community located in suburban Philadelphia. It will be managed by BPG’s multi-family operating arm, Madison Apartment Group L.P. The purchase was made on behalf of BPG Investment Partnership VIII & VIIIA L.P., a fully discretionary private equity fund with total equity commitments of $850 million. The first phase of the transaction closed in September 2008 and included the acquisition of two multi-family communities totaling 650 apartment units in Connecticut.
BPG Properties Ltd has completed the second phase of a three property multi-family portfolio acquisition from a publicly-traded REIT. This phase included the acquisition of Hunt Club, a 320-unit, multi-family community located in suburban Philadelphia. It will be managed by BPG’s multi-family operating arm, Madison Apartment Group L.P. The purchase was made on behalf of BPG Investment Partnership VIII & VIIIA L.P., a fully discretionary private equity fund with total equity commitments of $850 million. The first phase of the transaction closed in September 2008 and included the acquisition of two multi-family communities totaling 650 apartment units in Connecticut.
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