Iron Stone Real Estate Investment Fund I, L.P.
One of the great advantages of the Iron Stone companies is the ability to move quickly when opportunities arise. The capacity to bring cash to the table and close - reliably and quickly - can make the difference between a profitable deal and no deal at all. We formed Iron Stone Real Estate Fund I, L.P. to shorten the path to closing. The Fund provides a stable, quickly accessible pool of capital for new investments, which gives us added credibility and leverage at the bargaining table.
Fund Strategy
The Fund invests in undervalued real estate assets in the Philadelphia metropolitan
area. The typical Fund project will have a life cycle of 1 to 7 years. Each
investment is designed to reach sufficient value within that time frame to
allow us to return the limited partners their initial capital investment
in the project, annual preferred payments, and profits.
Projects
The Fund has closed seven transactions since its startup in March 2006. These
acquisitions include the Apple Storage Building in West Philadelphia; Falls
Center, a multi-use conversion of a former hospital in the East Falls neighborhood
of Philadelphia; 215-217 W. Church Road in King of Prussia, PA; and three Car
Washes in Philadelphia suburbs. The Fund's equity is fully committed, and as
the first investments are refinanced or sold the capital is returned to the
limited partners.
