Philadelphia Victoria Assoc. L.P.
Longmeadow Capital teamed up with a local property manager to acquire and
redevelop several residential apartment buildings in the Rittenhouse
Square area in downtown Philadelphia in the mid-1990’s. The partnership
has aggressively redeveloped, managed and repositioned the properties.
Through a combination of refinancing, increases in cash flow, escalation
of property values, and ultimately a sale in 2003, the partnership
realized a mid-twenty percent IRR.