Lucern Capital Partners acquires historic Philadelphia asset

Lucern Capital Partners, a Shrewsbury-based real estate private equity firm, announced Friday it has acquired Del Campo Apartments, a pre-1900s loft building located in Philadelphia’s Northern Liberties neighborhood.

The firm said it is planning a full-scale luxury renovation of the building, including both its common areas and units.

“We are extremely excited to be part of the vibrant fabric of Northern Liberties. The neighborhood has a certain organic authenticity that only time can create. Too often neighborhoods are a casualty of their own gentrification and transform into hyper-contrived versions of themselves. Northern Liberties still has its raw charm,” Frank Forte, managing partner, Lucern Capital Partners, said.

Financial and other terms were not disclosed.