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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.

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