X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LANSDALE, PA – Morgan Properties has taken ownership of the Silk Factory Lofts, a 116-unit apartment community here that was originally built as the Interstate Hosiery Mill and is listed on the National Registry of Historic Places.

The historic factory building, where silk stockings were produced until the 1940s, had been restored and converted into upscale residential loft units in 2008. Its owners could not perform on the mortgage and the property was returned to the lender, GE Capital. Morgan Properties joined with CBRE Capital Partners property to purchase the non-performing loan after a sheriff’s sale auction. The final price was not disclosed.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.