Philadelphia
Philadelphia Luxury Apartments Trade for $22M
The Class A multifamily property delivered in 2015, replacing several 19th-century industrial buildings in the Old City.
Wilmington Community Changes Hands in $7M Deal
River Commons Apartments received financing from Fannie Mae, while the Delaware State Housing Authority provided an additional subordinate debt loan.
CAPREIT Acquires Delaware Community
Greysteel’s Ari Firoozabadi and Henry Mathies acted on behalf of the seller and procured the buyer for Vinings at Christiana.
Philadelphia Multifamily Report – Fall 2019
Rents in the metro rose 3.7 percent year-over-year through August, outpacing the 3.3 percent U.S. rate.
Cushman & Wakefield Arranges $28M Refi for Philly Community
The company acted on behalf of the borrower, a joint venture between Ivy Realty and DW Partners. BBVA was the lender.
Philadelphia-Area Value-Add Properties Change Hands
Rittenhouse Realty Advisors sold Maple Grove Apartments and Royersford Gardens, two apartment communities located in Montgomery and Bucks Counties.
Halfpenny Management Picks Up Lehigh Valley Community
Birchwood Commons, a 96-unit residential property in Bethlehem, Pa., was completed last year. A Berkadia team orchestrated the sale and arranged the acquisition financing.
Pennsylvania Student Housing Portfolio Changes Hands
Rittenhouse Realty Advisors arranged the sale of the 44 properties for $21.3 million to a purchaser new to the student housing market.
CBRE Hires New SVP in Philly
Sam Zell joins the firm from Buligo Capital Partners. In his new role, he will work with the company’s multifamily capital markets team.
Philadelphia Multifamily Report – Summer 2019
Young professionals attracted by the metro’s tech magnet continue to fuel demand for housing.