An affiliate of Equus Capital Partners in Newtown Square is working to raise $500 million for an industrial property fund, writes Paul Schwedelson for the Philadelphia Business Journal.
Equus Industrial Partnership L.P., formed in 2024, has raised $136 million toward the fund so far, according to a filing with the U.S. Securities and Exchange Commission.
The filing has few details about what the fund will be used for, though its title implies that it would be used to acquire industrial properties.
Equus Capital Partners, best known for developing the Ellis Preserve in Newtown Square, is Philadelphia’s second-largest private equity firm, managing $8 billion.
It is the driver behind a $700 million, 218-acre mixed-use development at Ellis Preserve over two decades.
Equus bought 1.2 million square feet of industrial space in March 2024, paying $124 million for eight buildings, mostly in the Charlotte market.
It closed a nearly $1 billion portfolio acquisition of 5.4 million square feet of industrial space in 2022 when it acquired 75 buildings.
Equus does have various real estate holdings beyond industrial. It paid $73 million last month for a 230-unit apartment complex in Lansdale.
Read more about the property acquisition activity of Equus Capital in the Philadelphia Business Journal.
