FCA in Agreement to Buy Historic Lofts Near Philadelphia
FCA is in negotiations to buy apartments near Philadelphia with Lowe Enterprises
WHEATON, Ill., (December 23, 2014) – First Capital Advisors, LLC (FCA) announced today that the company is under contract to acquire Silk Factory Lofts in Lansdale, Pa., with join-venture partner Lowe Enterprises.
“Being able to expand our portfolio by securing a unique, historic property in the Northeast is another great opportunity for FCA,” said Chris Pope, Principal of First Capital Advisors. “This addition to our portfolio reflects the diversity and growth our company has achieved within a short amount of time.”
Silk Factory Lofts is a 116 unit historic loft-style apartments located in Lansdale, Pa., approximately 25 miles northwest from the city center of Philadelphia. The historic building was converted to urban lofts in 2008. The one, two, and three bedroom floor plans offer spacious windows and ceilings with access to a clubroom, fitness center, and courtyard.
Silk Factory Lofts is located within the area’s top employment and retail destinations. It is within walking distance of the Lansdale/Doylestown Train Station allowing easy downtown access for tenants.
Lowe Enterprises was founded in 1972 and is currently investing in and developing over $3 billion in real estate nationwide. Lowe offers a full range of services including investments, development, construction management, and asset management.
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.