Awards &

KKR Purchase of Philadelphia Apartment Complex Sets City Record
1st November, 2022
KKR’s acquisition of Presidential City, which consists of four 12-story buildings on the edge of Philadelphia, was more than $100 million higher than the previous top price paid for an apartment complex in the city.

As the economy shows signs of weakness, however, investments such as Presidential City are getting a second look because they have high occupancy levels with regular cash flow and the prospect of growing rents at a steady pace, said Mark Thomson, a broker at JLL who represented the apartment complex’s seller, local real-estate developer Post Brothers.

Read more at Wall Street Journal