Like a July afternoon, the Philadelphia area multi-family market is scorching hot. It seems like every day we are hearing or learning about another proposed multi-family development project in Philadelphia. Many large developers with no multi-family experience are getting into the game. Competition for existing assets is fierce. There is a significant supply-demand imbalance between buyers and sellers that is driving pricing up. Institutional capital is flocking to Philadelphia. This has led many to speculate: Is there a pricing bubble? Are there too many units being built? How will all of the new supply impact rents and occupancies?
Our goal is to provide an overview of the Philadelphia area apartment market. We will discuss wide ranging topics such as: financing, rents, construction, deal velocity, buyer profiles, and which submarkets are garnering the most attention. You will leave having a firm understanding of what is driving the hot apartment market in Philadelphia.
- Donald “Ridge” MacLaren, Jr., First Vice President Investments, Marcus & Millichap
- Clarke Talone, Senior Associate, Marcus & Millichap
Wednesday, July 30th
8:00 – 8:30 a.m. Registration and Breakfast
8:30 – 9:30 a.m. Program
4 Penn Center
1600 JFK Boulevard
Philadelphia, PA 19103