Goldtex Hamilton Court Presidential City Rittenhouse Hill The Atlantic The Duchess The Piazza The Irvine

Awards &
News

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.

Home Loans Get New Clarity After Foreclosure Fears

6th September, 2023

The Federal Deposit Insurance Corp. (FDIC) looks to have found a way forward for the portfolio of affordable-housing assets it took over from failed lender Signature Bank. In its announcement that it has begun the process to sell the $33 billion of commercial real estate loans from Signature, FDIC said it will create joint ventures with potential buyers of the approximately $15 billion in loans for multifamily residences that are rent- stabilized or rent-controlled.

"Even in this environment, there are buyers of rent-stabilized buildings and lenders who make loans on them, because if the underlying properties are valued at cap rates near today's interest rates, they would be very safe investments to own as a loan or as real estate in the case the loans are not performing," Matt Pestronk, president and co-founder of Post Brothers, a real estate developer based in Philadelphia, Pennsylvania, told Reuters.
Read more at Newsweek