Equus Capital Sells 220 Units for $12M


Equus Capital Partners, Ltd. sold the 220-unit Madison at Lake Gibson multifamily complex at 5233 US Hwy 98 N. in Lakeland, FL to Blue Rock Partners LLC for $11.96 million, or approximately $54,000 per unit. The 220,000-square-foot apartment community consists of one- and two-bedroom units in five buildings. It was built in 1989 in the Polk County submarket, and was 95 percent occupied at the time of sale. Luis Elorza and Byron Moger of Cushman...

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