Sanctuary Lofts and The Rectory

2319 - 2327 Fitzwater St, Philadelphia, PA 19146, United States

Sanctuary Lofts and The Rectory

Sanctuary Lofts & The Rectory is a 38-unit, value-add apartment opportunity situated on the corner of Fitzwater Street and Grays Ferry Avenue in the highly sought after Graduate Hospital neighborhood of Philadelphia.

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Tyler is a Director in the Philadelphia office of JLL Capital Markets, Americas. He joins JLL as part of the HFF acquisition and has extensive experience in multifamily investment advisory, equity placement and debt. Tyler focuses on private capital investment advisory transactions throughout the Philadelphia metropolitan area, including Center City Philadelphia, Pennsylvania, New Jersey, Delaware and Maryland. Over the course of his career, Tyler has been involved in more than $7 billion in commercial real estate transactions.



  • Multifamily
  • Investment Advisory

Education and affiliations:

  • BS, Villanova School of Business, Villanova University
  • Daniel M. DiLella Center for Real Estate, Villanova School of Business
  • NAIOP Developing Leader, Greater Philadelphia Chapter
Carl Fiebig
Carl FiebigSenior Managing Director, Capital Markets / (484) 532-4166
Fran Coyne
Fran CoyneDirector, Capital Markets / (484) 532-4171
Property Type
Deal Type
Risk Profile


The offering consists of two adjacent properties – (i) Sanctuary Lofts: a unique 30-unit building that was converted from a historic church in 2014 featuring high, vaulted ceilings and stain glass windows; and (ii) The Rectory: an 8-unit building directly adjacent to Sanctuary Lofts. Floor plans at the Properties feature well designed, studio-three bedroom units with open layouts and an abundance of natural light, modern high-end unit finishes, vaulted ceilings and in-unit washers and dryers. The properties have historically operated at or above 95% occupancy, providing an investor the opportunity to focus on light value-add cosmetic enhancements and management efficiencies to systematically maximize rents across the asset.


Sanctuary Lofts and The Rectory is well positioned with attractive unit finishes and fixtures that would benefit from a unit modernization program to meet the market’s demand for luxury finishes, allowing an investor to capitalize on quantifiable rental increases achieved in comparable assets nearby.


As currently positioned, the blended average in-place rent is $1,545 - $2.39 PSF, which trails the market by more than 25%, supporting a significant mark to market opportunity for new ownership to capitalize on through new leases and renewals.