The partners have purchased and redeveloped MCP Hospital (now Falls Center), Girard Medical Center (now The Behavioral Wellness Center) and St. Christopher’s Hospital for Children. The Provident Campus (located at 4601 Market Street) is fully leased, features 325,000 sf of clinical, medical and educational uses, and is slated for completion in 2022.
In 2021, the partners purchased several of the former Hahnemann Hospital buildings in Center City and leased 600,000 sf to an institutional user. Plans are underway to redevelop other underutilized portions of this complex into Race Street Labs, a for-lease 150,000 sf life sciences building, which will complement the existing 200,000 sf of labs already in use.
Falls Center is the historic redevelopment of the Women’s Medical College of Pennsylvania’s former campus. At the time it was one of the largest historic redevelopments in the mid-Atlantic region. The 700,000 sf mixed-use complex is home to dozens of commercial tenants including educational and medical uses and research facilities.
www.falls-center.com
We were chosen to design and develop a state-of-the-art co-location facility for the Philadelphia Police Department’s Special Victims Unit, Department of Human Services, and other investigation units. Iron Stone reused the envelope of an existing truck terminal from the 1950s and added an additional 20,000 square feet of new construction to create this space. Iron Stone broke ground on this project in the summer of 2012 and completed the project by summer of 2013.
Race Street Labs features 150,000 sf of newly renovated life sciences, research and development space adjacent to the Drexel University College of Medicine complex in Center City. The building features lab-ready building infrastructure, spec or customizable lab space, office support centers, on-site lab management support and security.
www.racestreetlabs.com
The Provident campus is a 15-acre transit-oriented development featuring 325,000 sf of public health, clinical and educational uses, and several distinct apartment communities. PHMC, the region’s public health institute, the Children’s Hospital of Philadelphia (CHOP), and KIPP Philadelphia are the lead and anchor tenants.
www.4601market.com
St. Christopher’s Hospital for Children is a 15-acre, 900,000 sf children’s hospital in Philadelphia. Acquired at bankruptcy auction, the goal was to preserve and ensure the continued stability of the hospital. The building and parking garage is leased to Drexel University and Tower Healthcare.
www.towerhealth.org
The Behavior Wellness Center (formerly Girard Medical Center) is a 350,000 sf series of distinct buildings on 7-acres. Acquired at bankruptcy auction, the goal was to preserve and restructure the existing behavioral health, addiction treatment and recovery programs while improving patient outcomes. The property is leased to a variety of commercial and non-profit uses with the BeWell Center and Self Inc as the anchor tenants.
www.bewellctr.org
Our investment strategy is based on experience, facts and discipline.
Our approach to harnessing value is creative, collaborative and straightforward. We are contrarian in our acquisitions and opportunistic in our dispositions.
The culmination is an ability to execute on real estate ventures that yield high risk adjusted returns while spurring innovation, growth and vitality for the surrounding communities.
Since the mid-1990s Andrew has completed more than $1.25 billion in real estate transactions. He provides vision and leadership to the company oversees the construction and development of Iron Stone’s real estate portfolio.
Education:
B.S University of Pennsylvania
Current and Former Non-Profit Affiliations:
Settlement Music School, Legacy Youth Tennis
Matt joined Iron Stone in 2001 and overseas acquisitions, contract negotiation, financings, real estate, land use and corporate law. Additionally, he serves as the company’s Chief Counsel. While at Iron Stone, he has developed more than 130 commercial real estate properties with a combined value in excess of $1 billion.
Education:
B.S. Wharton School of the University of Pennsylvania
J.D. University of Pennsylvania Law School
Current and Former Non-Profit Affiliations:
Self Inc, PAWS, The Philadelphia School
Jason joined Iron Stone in 2002 and is responsible for the business strategy, finance and utilization of alternative financing sources such as Historic Rehabilitation, New Markets and Low-Income Tax Credits. While at Iron Stone, he has developed more than 130 commercial real estate properties with a combined value in excess of $1 billion.
Education:
B.S. Washington University in St. Louis
Current and Former Non-Profit Affiliations:
The Academy of Natural Sciences, Clarke Schools for Hearing and Speech, Woodmere Art Museum, Share Food Program and The Philadelphia Museum of Art Prints, Drawings and Photographs Committee
Sam joined Iron Stone in 2018. He has significant entrepreneurial and executive experience with a focus on real estate, private equity, various insurance products, software and information technology.
Education:
B.S. Cheyney University
M.B.A Wharton School of the University of Pennsylvania
Current and Former Non-Profit Affiliations:
Philadelphia Health Management Corporation, Cheyney University, Center for Literacy, Children First, African American Chamber of Commerce
Mike Pearson joined Iron Stone in 2018. He is a widely respected leader with more than 25 years of social C-Suite experience, deep public company, private family and private equity expertise as a front-line P & L entrepreneurial leader. He is a specialist in for-profit and non-profit operations in diversified industries.
Education:
Commission, The United States Army Officer Candidate School
Ranger Certification, The United States Army Ranger School
B.A. University of Pennsylvania
Executive Management Program The Tuck School of Business at Dartmouth
Executive Management Program Northwestern University Kellogg School of Management
Current and Former Non-Profit Affiliations:
Children’s Hospital of Philadelphia, William Penn Foundation, Philadelphia Foundation, Philadelphia Zoo, Philadelphia Health Management Corporation, Philadelphia Regional Port Authority, Advisory Council of the Federal Reserve Bank of Philadelphia, Philadelphia Museum of Art
