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Equus sells Montgomery County apartment complex to South Jersey firm for $62.5M

Friedman Realty Group of Gibbsboro, N.J., has acquired the 308-unit property.

Units at the Madison Willowyck apartment complex in Upper Gwynedd Township, Montgomery County.
Units at the Madison Willowyck apartment complex in Upper Gwynedd Township, Montgomery County.Read moreEquus Capital Partners

Camden County-based Friedman Realty Group has acquired the Madison Willowyck apartment complex outside Lansdale in Montgomery County.

Friedman, of Gibbsboro, N.J., paid $62.5 million for the 308-unit property off Sumneytown Pike near Route 363 in Upper Gwynedd Township, seller Equus Capital Partners Ltd. said in a release this week.

At the time of the sale, Madison Willowyck was 96 percent occupied, according to Yardley-based Equus, which acquired the property in 2007 from a division of Swiss financial firm UBS AG.