Philadelphia
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.
Post Brothers Sells Philadelphia Student Housing for $87M
Rittenhouse Realty Advisors brokered the transaction.
Rose Valley Capital Obtains $74M for Philadelphia Buy
Natixis provided the financing for the 276-unit property.
Equus Capital Sells Philadelphia-Area Community
Three years after completing the property, the company has sold the 186-unit property in Lansdale.
Philadelphia Multifamily Report – May 2022
Despite the seasonal slowdown, yearly rent growth remained in double-digit territory.
Southern Land Co. Starts Construction on Philly Luxury Tower
Upon completion next year, the mixed-use community will rise 27 stories.
SmartStop Buys 2 Philadelphia Storage Facilities for $41M
Both properties came online in 2021.
Greystar To Redevelop 588-Bed Philadelphia Student Community
The property is set to open at the beginning of the 2023-2024 academic year.