Philadelphia
Philadelphia Multifamily Report – December 2022
Despite headwinds, transactions hit another record.
Landmark to Develop Philly Student Housing Tower
The high-rise will provide residences for University of Pennsylvania and Drexel University students.
Post Brothers Secures $72M for Philadelphia Project
The development received financing from Lionheart Strategic Management and Bank OZK.
LCOR Tops Out Philadelphia Luxury Tower
The project’s construction is subject to a $90 million loan provided by Webster Bank.
FPA Multifamily Buys $96M Philadelphia Asset
JLL Capital Markets represented the seller of the 352-unit property.
KKR, Mack Buy Philly Luxury Asset
JLL Capital Markets represented the seller of the 1,015-unit property.
Filling a Historical Gap: Behind Philly’s Tallest Residential Tower
The 48-story high-rise in the metro’s Rittenhouse Square is an iconic addition to the city’s skyline.
Philly Mixed-Use Community Lands $150M Refi
Residents have access to various cultural and recreational venues, including The Franklin Institute.
Philadelphia Multifamily Report – August 2022
Halfway through 2022, Philadelphia’s multifamily market maintained its vigor despite rising uncertainty regarding the economy. Strong demand kept up with substantial deliveries and the occupancy rate in stabilized properties remained flat at 96.7 percent in May, with core submarkets beginning to regain popularity among renters. Meanwhile, the average rent rose 11.4 percent year-over-year through June, to $1,695, still trailing the $1,706 U.S. figure. READ THE FULL YARDI MATRIX REPORT Philadelphia’s employment market expanded 4.3 percent, or 113,800 jobs, in the 12 months ending in May, 40 basis points behind the U.S. rate. Leisure and hospitality (38,100 jobs), trade, transportation and…
High Street Residential JV Completes Philadelphia Community
MetLife Investment Management partnered with the Trammell Crow affiliate on this 280-unit development.