Wiltshire Arms at Mt. Airy

• Location: East Mt. Airy, Philadelphia, PA
• Style: Two-Story Garden Apartment
• Acquired: 2Q17
• Distressed Reposition
• We acquired the asset in a distressed state with significant deferred maintenance. Over the course of 1 year, we injected significant capital, bringing the building to market conditions, rebranded the asset, and improved rents and the valuation dramatically. We refinanced with stabilized long-term debt, extracting 100% of the equity in the process and securing the future of the asset.