WHEATON, Ill., (April 1, 2015) – First Capital Advisors, LLC (FCA) purchased Silk Factory Lofts in Lansdale, Penn., located just north of Philadelphia, with joint-venture partner Lowe Enterprises Investors.
“We are thrilled to be able to diversify our portfolio by not only adding our first property located in the northeast, but as well as finding a property with so much history and charm,” said Chris Pope, Principal of First Capital Advisors. “This is also our first joint venture with Lowe Enterprises and we are excited about building a long term prosperous relationship with them.”
Silk Factory Lofts is a 116 unit apartment complex located in Lansdale, Penn., approximately 25 miles north of Philadelphia. The loft-style property was originally built in 1922 as the Interstate Hosiery Mill and is registered as a national historic building around 2008, before the building began being renovated into apartments. Silk Factory offers one, two, and three bedroom units with open floorplans, exposed duct work and bricks allowing for a true loft style feel while keeping some of the historical charm.
Silk Factory Lofts is located within walking distance of Lansdale and Pennbrook train stations allowing easy access to the center of Philadelphia. It is also close to numerous restaurants, shops, Line Street Park, and is in the North Penn School District, whose high school was ranked as one of the top schools in the country by the Washington Post and Newsweek in 2013.
First Capital Advisors, LLC is a fully integrated, self-administered and self-managed real estate investment firm focusing on the acquisition, ownership, and management of high quality real estate throughout the United States. First Capital is an affiliate of First Trust Portfolios L.P., a financial services firm founded in 1991. Additional information about First Capital Advisors can be found at the company’s website at fca-grp.com.