Equity Multiple Return
Property Type: Multifamily
Sold in Q1 of 2018 in a joint-venture partnership with Lowe Enterprises, Silk Factory Lofts is a 116 unit historic loft-style complex located 25 miles northwest of Philadelphia. The property was converted from a historic building in 2008 and is within walking distance of the Lansdale/Doylestown Train Station, restaurants, and shops.
One, two, and three bedroom open loft design creates a spacious atmosphere with vaulted ceilings and oversized closets. Silk Factory Lofts provides plenty of off street parking, an elegant clubroom, and a modern fitness center with a view of a beautiful courtyard.
During the 3 year investment period, a value-add program was implemented with upgrades to about 1/3 of the units and common areas.