Andrew Eisenstein

Andrew V. Eisenstein is a Founding Partner of Iron Stone Real Estate Partners, a Philadelphia-based real estate private equity and development firm he helped establish in the mid-1990s. He holds a B.S. from the University of Pennsylvania. Since the mid-1990s he has completed over $400 million in private equity and real estate transactions personally, and the firm as a whole has completed approximately $1 billion in real estate-related projects since 1995.

Eisenstein came up through the operational side of real estate, with a hands-on background in general contracting, historic property restoration, and high-rise construction. He has translated that operating expertise into an investment model focused on opportunistic real estate development, special-situations investing, and mortgage-debt (note) acquisition — often taking on large, complex institutional assets that other buyers avoid. Iron Stone today develops, owns and manages in excess of three million square feet of medical, life-science and mixed-use property across the Philadelphia region, working closely with the city's leading universities, hospitals and institutions.

Beyond Iron Stone, Eisenstein is active in Philadelphia civic and nonprofit life. He has served as a trustee of the Settlement Music School and previously served on the board of Legacy Youth Tennis (formerly the Legacy Youth Tennis and Education organization). He leads Iron Stone alongside partners Jason Friedland, Matthew Canno, Michael Pearson and Sam Patterson.

• Value-add and opportunistic real estate: The firm targets undervalued, complex or distressed assets it can reposition — its self-described niche is "value-added real estate assets, the acquisition of real estate related operating companies, and the assumption of mortgage notes."
• Institutional adaptive reuse: A signature play is buying large legacy institutional campuses (hospitals, universities) and converting them to modern life-science, lab, medical, educational and mixed-use space.
• Sector concentration: Life sciences, healthcare, education/institutional, specialty commercial, and multifamily/mixed-use.
• Local, relationship-driven: Focus is concentrated in the Philadelphia metro, and deals are typically done in partnership with the city's "top companies, universities, and institutions."
• Special situations / debt: Willingness to acquire mortgage notes and assets out of bankruptcy or distress, using construction and restoration expertise to unlock value.