118 Lofts

118 Market St,
Philadelphia, PA 19106,

Alterra acquired this 18,000 square foot warehouse building in the Old City section of Philadelphia in late 2012. After obtaining zoning approval, the building was converted into residential apartments, a tenant gym, and a ground floor bar/restaurant. After completion of construction, the building was sold. Equity multiple was 3x in less than 18 months.