Equus Capital Partners Buys 226-Unit Property in Geneva, Illinois

GENEVA, ILL. — Equus Capital Partners has acquired Ashford at Geneva, a 226-unit community in Geneva. The property was acquired on behalf of a joint venture with a U.S.-based public pension plan. Ashford was approximately 97 percent occupied at the time of acquisition and comprises one- and two-bedroom units averaging 962 square feet. Community amenities include a clubhouse, fitness center, pool, business center, outdoor gathering spaces, grilling areas and a dog park. The property will undergo an improvement program focused on apartment interiors, common areas and select exterior upgrades. Madison Apartment Group, the multifamily operating affiliate of Equus, will oversee property management and will lead the capital improvement plan. The seller was not disclosed.