1616 Walnut St,
Philadelphia, PA 19103
Alterra acquired this ~275,000 square foot Class B office building in 2012 in partnership with Federal Capital Partners and Cross Properties. After a full year of meticulous planning, the building was vacated and redeveloped into 206 apartments, 22,000 square feet of retail space and 110 spot structured valet garage parking spaces. The project was completed in Q2 2014, renamed “Icon” and established as Philadelphia’s premiere rental apartment building. In June 2015, and after completing the lease up to 98%, the building was sold to a private investor.