Iron Stone has created a niche in the Philadelphia market by quickly amassing a large portfolio of performing and distressed commercial first mortgages and REO. Our Funds and partnerships have acquired mortgages and REO from Capmark, Ciena Capital, Key Corp, select government agencies, and several other lenders requesting anonymity.
As an example, in 2009 Iron Stone Real Estate Fund II acquired a portfolio of distressed commercial mortgages from Astoria Federal Savings Bank. The portfolio consisted of 13 first mortgages collateralized by rental apartment buildings in the Philadelphia Metropolitan Area comprising a total of 358 units. Per the seller’s request, the transaction was completed within 30 days in an all cash transaction.
Iron Stone's executive team prides itself on working cooperatively and collaboratively with sellers while appreciating the sensitivities of timing, decisiveness and discretion. The collective experience of our team allows us to evaluate real estate and debt portfolios quickly and quietly.
As an example, in 2009 Iron Stone Real Estate Fund II acquired a portfolio of distressed commercial mortgages from Astoria Federal Savings Bank. The portfolio consisted of 13 first mortgages collateralized by rental apartment buildings in the Philadelphia Metropolitan Area comprising a total of 358 units. Per the seller’s request, the transaction was completed within 30 days in an all cash transaction.
Iron Stone's executive team prides itself on working cooperatively and collaboratively with sellers while appreciating the sensitivities of timing, decisiveness and discretion. The collective experience of our team allows us to evaluate real estate and debt portfolios quickly and quietly.