Iron Stone Strategic Capital Partners

Iron Stone Strategic Capital Partners (also called Iron Stone) is a real estate private equity firm located in Philadelphia, Pennsylvania that has a niche focus on value added real estate assets, the acquisition of real estate related operating companies, and the assumption of mortgage notes. As of 2012, Iron Stone has acquired and developed approximately $300 million in real estate related projects. Iron Stone was founded in 1995. The principals are Andrew Eisenstein, Jason Friedland, and Matthew Canno.

Urban Sustainability

Iron Stone focuses on urban sustainability. Iron Stone focuses on the "adaptive reuse" of older buildings in densely populated, older city neighborhoods.^[1] By doing this, Iron Stone skips the wasteful demolition and reconstruction process. Furthermore, Iron Stone’s focus on real estate reuse does not contribute to the spread of urban sprawl.

Notable Projects

Falls Center

Iron Stone is responsible for the redevelopment of the Woman's Medical College of Pennsylvania in East Falls, Philadelphia, Pennsylvania, which served as the first women's medical teaching hospital in the United States. Before Iron Stone acquired it, the 700,000 square foot hospital suffered from a number of rapid ownership changes and was finally abandoned in 2005 after the previous owner declared bankruptcy. The huge complex continued exacerbating urban blight in Philadelphia until Iron Stone was able to acquire it in 2006 and begin the process of adaptive reuse. In 2008, the principals registered the property in the National Register of Historic Places to honor its significance as the nation's first women's medical school.

Falls Center was originally constructed in the 1920s by Ritter & Shay, a prominent architecture firm in Philadelphia during the 1920s, and Iron Stone worked hard to preserve as much of the architectural elements as possible throughout the redevelopment process. The site has been successfully adapted for mixed-use student housing, commercial space and medical offices and has led to the creation of over 2,000 permanent full-time jobs.^[2] The Falls Center is home to over 18 businesses and is one of the largest centers of commerce in East Falls <^[3]

Falls Center

Front of Falls Center

Front of the Falls Center

1425 Arch St

Iron Stone was responsible for the redevelopment of the long vacant Elkins Memorial YMCA, located at 1425 Arch St. This historic building was constructed in 1911 by the Gilded Age architect Horace Trumbauer.^[4]

Street view of 1425 Arch

External links

- Iron Stone Tapping Distressed Loan Fund
- Old Medical College of Pennsylvania Campus Shoring Up
- $50M fund will buy back bad real estate bank notes
- Falls Center undergoing new transformation
- Eastern U: New Philly campus, charter at old MCP
- Time capsule found at former Woman's Medical College building in East Falls
- GOLD AWARD: Falls Center Heritage Building, Philadelphia, Pa. - Falls Center

References

1. Kostelni, Natalie. "Iron Stone fund seeking $75 million". Philadelphia Business Journal. Retrieved 13 January 2012.
2. Mastrull, Diane. "Falls Center is still evolving The historic location of the Woman's Medical College of Pennsylvania is now becoming a medical and educational complex. Despite a bad commercial real estate market, the center continues to attract new tenants.". Philly.com. Retrieved 13 January 2012.
3. "Falls Center Tenants". Falls Center.
4. "Young Men's Christian Association, Philadelphia". Free Library of Philadelphia. Retrieved 13 January 2012.