News
PHILLY: Residential Heating Up
June 20, 2014
Values are rising in Philly because there's a ton of equity driving deals (coming from other East Coast markets where cap rates have compressed); buyers are even underwriting more aggressively than brokers. And expect an even more sweltering summer, according to HFF senior managing directors Mark Thomson and Zac Pierce. The duo just closed on the $38M sale of the 150-unit Presidential Palace in Lebanon, NJ (pictured) and brokered the sale of 502-unit Charter Court at East Falls (to Teaneck-based Treetop Development) in March.
