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

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Units at the Madison Willowyck apartment complex in Upper Gwynedd Township, Montgomery County.

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.

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