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Real Estate Journal — Pennsylvania — Section C
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Company hires Zell to join its Multifamily Capital Markets Group as senior vice president Philadelphia based net-lease team sells 27 properties in H1 2019, totaling more than $104M P HILADELPHIA, PA — CBRE announced that Matthew Gor- real estate needs.” MatthewGorman andMichael Shover lead the CBRE Net-
was a tenured transactions professional with Resource Real Estate, Inc. in Philadel- phia, where he was responsible for acquiring, financing and divesting of over $2 billion in commercial and multifamily assets, collectively. “We are thrilled to have such an experienced veteran join our multifamily capital markets team,” said Yablon, also a Senior Vice President. “Sam will allow us to continue to expand our already strong relationships with institutional and non-institutional clients.” “Coming from the principal end of the business, I worked with Spencer, John and Bob for years on the other side of the table,” said Zell. “I am excited and humbled to now work alongside them, as well as an incredibly talented team of professionals. I am confident our team will continue to de- liver exceptional outcomes for our clients.” Zell earned a Bachelor of Arts degree from the University of Pennsylvania and a Master of Science in Real Estate Finance andMaster of Business Admin- istration degree fromNewYork University. • (100%) Two-Bedroom Units • Two-Story Garden Apart- ments • Brick Construction with Pitched Roofs • 7Miles to Doylestown, Coun- ty Seat Royers f ord Apar tment s , Royersford, Montgomery County includes: 29 Units • Traded at 5.65% T-12 CAP Rate • Value-Add Opportunity • (55%) Two-Bedroom Units • Three-Story Garden Apart- ments • Brick Construction with Pitched Roofs • Close to Rtes. 422, 202 and 309
Lease Prop- e r t y Gr oup Mid-Atlantic Team along with Thom- as Finnegan and Robert Thompson, both associ- ates.
HI-LIGHTS AUGUST 9 - 22, 2019 SPOTLIGHT CENTRAL PA 7-9C COLLIERS FACILITATES LEASE FOR 1 ST PHILA. MEDICAL MARIJUANA DISPENSARY The completed transactions, most of which are classified as “net lease”, were a mix of res- taurants, convenience stores/ gas stations, discount stores, veterinary clinics, fitness cen- man, Mi chae l Shover , Thomas Finnegan and Robert Thompson of the Philadelphia-based arm of CBRE’s Net-Lease Properties team sold 27 properties during the first half of 2019, totaling $104,430,491.
In other news, CBRE an- nounced that Sam Zell has joined the company’s Phila- delphia-area offices to serve as senior vice president. In his new role, Zell will partner with the Multifamily Capital Markets team comprised of Spencer Yablon, John Mc- Fadden, Robert Miller, Mi- chael Jahnle and Samantha Kupersmith . Zell is a 17-year veteran of private equity-funded acquisi- tions in institutional-quality real estate investments, with an emphasis in the multi- family sector. Prior to joining CBRE, he most recently led the charge in creating a high-qual- ity multifamily portfolio in the northeast for Buligo Capital Partners. Prior to Buligo, Sam
CBRE’s Net-Lease Properties team sold 27 properties
year with interest rates on the rise through the end of 2018,” said Gorman. “The tide turned in our direction, which boosted our activity substantially and resulted in a successful first half of the year.” “As real estate valuations in product types such as apart- ments, office and industrial made a comeback, the number of 1031exchange buyers and capital chasing our product type increased,” added Shover. “We pride ourselves in our knowledge and expertise of tax-deferred exchanges and look forward to continuing to assist our clients with their
ters and drug stores, spanning across twelve states, including seven in Pennsylvania and five in New Jersey. Noteworthy transactions included the $24 million sale of a two-tenant retail con- do property in Philadelphia, Pennsylvania; a national gym located in Fort Washington, Pennsylvania which traded for over $9 million; four Wawa and Sheetz gas station/conve- nience stores totaling more than $22.9 million; and eight discount stores (Family Dollar and Dollar General) totaling over $9.8 million. “It was a slow start to the PHILADELPHIA, PA — Rittenhouse Realty Advi- sors recently sold two garden- style apartment communities situated in two highly sought- after Suburban Philadelphia locations. Each property’s location affords tenants access to some of the top employers in Center City Philadelphia as well as Conshohocken, Doylestown, Fort Washington, King of Prussia and Valley Forge. Both properties feature excellent construction and de- sired unit mix while providing the new owners with value- add opportunities. Maple Grove Apartments, Dublin, Bucks County in cludes: • 32 Units • Traded at 5.8% T-12 CAP
Rittenhouse Realty Advisors sells two garden- style apartment communities in Philadelphia Rate • Value-Add Opportunity
ACE MENTOR PROGRAM ORGANIZES $400K SCHOLARSHIP PROGRAM
Maple Grove Apartments
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