WALTHAM, MA—An affiliate of Philadelphia-based Equus Capital Partners, Ltd. reports it has recapitalized the two-building, 288,127-square-foot University Office Park complex here.

The transaction involved a restructuring and recapitalization of a previous tenant-in-common ownership structure. Equus worked with Direct Invest, LLC on the TIC deal. No financial terms of the recapitalization and restructuring were released. In addition to its preferred equity infusion in the property, Equus also acquired more than 25% of the ownership interests in the buildings. Affiliates of Equus will serve as the managing general partner of the portfolio and perform property management services, company officials say. At the time of closing the University Office Park complex was 87% occupied.

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