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Philly CRE Is In Contraction Mode, And Deal-Makers Are Poised To Take Advantage

22nd September, 2023

“You’re getting a call from someone who controls an asset that has no liquidity, and it’s a potential conversion or a piece of land,” Post Brothers co-founder Matthew Pestronk said. “Throw out the lowest number that they won’t be insulted by, say you need this much time to execute, and you’re getting answers of, ‘Huh, let us think about […]

Expansive-owned Longfellow Building near Dupont Circle could be headed for auction

21st September, 2023

Philadelphia developer Post Brothers bought the older 2100 M St. NW building for a potential residential conversion earlier this year.

Flooding the Market: 10,000 apartments are about to pour into the River Wards. Here are 20 projects to watch.

20th September, 2023

While developments like Post Brothers’ $500 million, 1,100-apartment Piazza expansion are nearing completion, dozens of others are kicking off or in the works.

Buyers sought for Signature Bank’s $33 bln CRE portfolio

5th September, 2023

WASHINGTON, Sept 5 (Reuters) - The U.S. Federal Deposit Insurance Corporation (FDIC) is seeking buyers for the $33 billion commercial real estate (CRE) loan portfolio of failed New York lender Signature Bank, it said on Tuesday.

While the commercial real estate industry has been under pressure amid rising rents and lingering office vacancies, Signature Bank's portfolio is relatively attractive, said Matt Pestronk, president and co-founder of Post Brothers, a real estate developer based in Philadelphia.

Read more at Reuters