Iron Stone acquired Falls Center, a 700,000 sf complex at the center of metropolitan Philadelphia. Iron Stone acquired this property from a troubled hospital operator that needed to sell quickly to put an end to large operating losses. When a high bidder was unable to close the operator turned to Iron Stone under extreme time pressure. The partners assembled financing and closed the deal in two weeks, for a fraction of its market value.

Falls Center is situated on 12 landscaped acres with panoramic views of the entire city. Its location on Henry Avenue and proximity to the junction of Route 1 and I-76 give it a prime transportation advantage. The complex consists of 4 main buildings, a smaller gatehouse at the main entrance, and a 500-space multi-level parking garage, along with 600 surface parking spaces. The facility was previously home to the historic Medical College of Pennsylvania, the first medical school for women in the United States. Iron Stone nominated and achieved the former hospital’s designation on the National Register of Historic Places.

The redevelopment of the site includes four components: market-rate rental apartments; leased office including commercial, educational, medical, hospice and laboratory sciences space; an independent care facility; and retail with frontage on a high-traffic commuting corridor.

Falls Center utilizes the built-in infrastructure and location advantages offered by the site to create a vibrant mixed-use facility. For more information, please visit www.falls-center.com

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The historic building, formerly a home to the Mid-City YMCA, was originally designed in 1911 by the great Gilded Age architect Horace Trumbauer.

Iron Stone acquired and quickly transformed the property, making necessary renovations, building out and leasing 100% of the space. Utilizing the building’s layout and design as a guide, the space was repositioned to accommodate a 30,000 sf tenant, Sweat Fitness. This gym’s location has become one of the chain's most successful, and it offers spa services and an extensive range of dance, martial arts, and workout classes.

At the time of acquisition, the building suffered from extensive structural impairments due to the original indoor swimming pool located in the building’s basement. Iron Stone redeveloped this space so that it is now a functional modern swimming facility. On the upper floors, Iron Stone converted the space into offices for a local non-profit organization. The 5 floors above the YMCA space have been leased to a Le Meridien Hotel.

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45 N. 3rd is a 42,000 sf historic building located in the Old City section of Philadelphia. Iron Stone purchased the property with a venture partner. At the time, the building was occupied by a shoe retailer who had been operating on the site for over 50 years.

Iron Stone negotiated an arrangement whereby the seller could continue to occupy the space for a time in return for a reduced sale price. The property benefits from an outstanding location in the heart of the thriving Old City district, where boutique shops, restaurants, bars, and condominiums have blossomed in the last decade.

The foot traffic and "destination" status of the neighborhood make it very attractive for retailers and office tenants alike.

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