KING OF PRUSSIA, Penn. — An affiliate of Livingston Street Capital, a boutique private equity firm, has acquired Canvas at Valley Forge, a 231-unit, Class A active adult community in King of Prussia, a suburb of Philadelphia.
The luxury asset brings the firm’s multifamily portfolio, which currently comprises primarily active adult communities, to more than 1,800 units located throughout seven states.
“This investment opportunity is well aligned with the core of our active adult strategy,” explains Peter Scola, founder, president and co-CEO of Livingston Street Capital, who notes that according to Esri data, over 31 percent of the population within a five-mile radius of the asset will be 55 or older by 2026.
Canvas at Valley Forge is located within Village at Valley Forge, a master-planned development with walkability to several convenient amenities and access to nearby medical facilities. The King of Prussia Mall is located one mile from the property, and the Valley Forge National Historical Park, featuring over 3,500 acres of historical structures, monuments, meadows, and woodlands, is just over two miles away.