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Appetite for Apartments Strong into '16. Here's Why.

Gebroe-Hammer Associates SVP Eli Rosen says the investment market for Philadelphia multifamily is ending 2015 with a bang—and there's more momentum to look forward to.

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Investor appetite has been insatiable, and the tenant base of young professionals continues to absorb new product metrowide at a historic pace, Eli says. While University City and Center City are among the city’s hottest, surrounding urban and suburban submarkets are attracting significant attention as well.

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Eli recently repped Post Brothers in its acquisition of Garden Court Plaza, a 146-unit 1920s-era apartment building at the corner of 47th and Pine streets. The property is undergoing extensive renovations and repositioning to cater to citywide demand for upscale apartment homes, Eli notes.

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Districts like University and Center City are seeing tremendous investment and development interest as post-graduates "contribute to defining the ‘vibe’ or character of these districts where the arts, eclectic dining and historic architecture are attracting renters en masse,” Eli adds.