An affiliate of Equus Capital Partners, the Newtown Square developers behind the Ellis Preserve, is in the process of raising a $600 million fund to invest in multifamily properties, writes Paul Schwedelson for Philadelphia Business Journal.
Equus Multifamily Partnership L.P. has so far raised $34.3 million. The fundraising began in the first week of March, according to a Form D filed with the U.S. Securities and Exchange Commission.
Equus purchased a 230-unit apartment complex in Lansdale last year for $73 million. It also developed a 12-story, 348-unit apartment building in Conshohocken.
It has sold apartment complexes in Texas, North Carolina, Florida, and Colorado.
The company is behind the development of the $700 million Ellis Preserve in Newtown Square, a 218-acre mixed-use propejct created over the past 20 years.
The multifamily fund is similar to the Newtown Square firm’s $500 million industrial fund.
The industrial fund as of May 2025 stood at $136 million. It is being used to purchase warehouse properties, according to SEC filings.
For the past 30 years, Equus has raised $3.4 billion in discretionary equity through 14 funds.
Read more about Equus Capital Partners’ fundraising efforts in the Philadelphia Business Journal.
