One of the nation’s leading private equity fund managers, Equus Capital Partners, Ltd., recently announced the sale of Madison Willowyck in suburban Philadelphia, PA.  The 308-unit apartment community was sold to Gibbsboro, New Jersey-based Friedman Realty Group for $62,500,000.  At the time of the sale, the community was 96 percent occupied.

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“Investor demand was strong for this well-maintained community that offers residents exceptionally spacious and diverse floorplans,” commented Pete Naccarato, who was responsible for overseeing the disposition for Equus. “We received over twenty written offers for this unique and enduring asset.”

The seller was represented by Erin Miller and Marybeth Farris of Jones Lang LaSalle.

Madison Willowyck is located approximately 20 miles northwest of Center City Philadelphia within Upper Gwynedd Township in Montgomery County.  The property sits less than five miles from the Lansdale interchange of I-476 and is proximate to Routes 363 and 202, providing convenient access for residents to nearby employment centers including King of Prussia, Conshohocken, Plymouth Meeting, and Fort Washington.

Built in 1972, the garden style apartment community offers residents a mix of one, two, and three bedroom units with private entrances in a low-density setting.  Madison Willowyck’s units are 20 percent larger than the average unit size in the competitive set.  Further, it is the only property in the local market to offer several units that are single-story, ranch-style apartment homes. Community amenities on the 28-acre site include a resort-style pool, 24-hour fitness center, clubhouse with community room and balcony, and a scenic wooded setting.

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