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Equus Capital Buys Office-Lab for $41M

GAITHERSBURG, MD-The trade also includes a 4.9-acre parcel of land that can accommodate the development of 125,000 square feet of office/lab space.

By Erika Morphy | Updated on February 14, 2013

GAITHERSBURG, MD-Equus Capital Partners, the former BPG Properties, has acquired a four-building, 282,523 square foot office and lab portfolio here for $41.4 million. The buildings are 95% leased to such tenants as Medimmune, Qiagen and Amplimmune. The acquisition also includes a 4.9-acre parcel of land that can accommodate the development of 125,000 square feet of office/lab space. Equus made the acquisition via its discretionary fund, BPG Investment Partnership IX, L.P.

Equus acquired the property for both its income flow and the value-add potential, according to George Haines, vice president of Equus who handled the acquisition for the firm.

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