4B — July 24 - August 13, 2020 — New Jersey — M id A tlantic Real Estate Journal
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N ew J ersey
Latest deals a positive sign of things to come for multifamily investments Gebroe-Hammer records $121.55+M in YTD Phila. Metro sales
HILADELPHIA, PA &SOUTHJERSEY — Like much of the North- east, the Greater Philadelphia Metro’s gradual re-opening is a positive sign of things to come as are the $121.55+M in metro-wide multifamily in- vestment sales encompassing 1,073 units arranged year- to-date by Gebroe-Hammer Associates . Spearheaded by executive managing direc- tor Joseph Brecher, Ge- broe-Hammer’s Philadelphia Metro Market team includes Eli Rosen , senior VP, and sales representatives Joseph Gehler and Eli Herskowitz . P
through during Pennsylvania’s stay-at-home executive order involved the sale of a multifam- ily property where the seller was directly affected by the virus. During this timeframe, several of Gebroe-Hammer’s brokerage professionals also overcame a number of logisti- cal challenges due to the CO- VID-19 shutdown to finalize deals across the region. “The Greater Philadelphia Metro is rather unique because of its high concentration of population- and apartment- building dense neighborhoods, many of which have undergone gentrification during the past 10 – 15 years or are currently experiencing a renaissance of their own,” said Rosen. “It is an extremely dynamic market with abundant opportuni- ties, from new construction to value-add investments.” According to Reis/Moody’s Analytics, the Philadelphia apartment market is comprised of 227,694 multifamily units that span 28 geographic con- centrations. Gebroe-Hammer’s brokers are deeply entrenched in each submarket, which range in size from the 24,453- unit Center City submarket to Olney/Oak Lane’s 2,870 units. In NJ’s Southwest Region, Gebroe-Hammer orchestrated $70.3M in sales throughout Burlington (210 units), Cam- den (46 units) and Mercer (316 units) counties. Across the Delaware River in Philadel- phia, the firm’s sales totaled 322 units sold for $29.5M. And to the northwest in Bucks and Montgomery counties, the firm’s latest transactions in- volved garden-style apartment- rental properties totaling 179 units sold for $21.75M. “At Gebroe-Hammer Associ- ates, our brokerage profession- als have earned the respect and trust of property owners and investors with a focus on Phila- delphia and the surrounding metro,” said Brecher. “This has allowed us to successfully pivot our sales practices to one that is first and foremost safe, includ- ing but not limited to physical distancing and consideration of others’ personal sensitivities and concerns during this pe- riod. As in the past, our future success is rooted in the strong relationships that continue to feed a pipeline where buyers are ready, willing and able to in- vest in commercial real estate’s most-resilient asset category – multifamily.” MAREJ
deal lifecycle – from secur- ing an exclusive listing and implementing a multi-tiered property-marketing campaign to finalizing a transaction at the closing table,” said Brecher. “Whether it is during the boom years or in challenging times such as these, Gebroe-Hammer is widely acknowledged for its ability to deploy market special- ists in person and virtually,” he added, “to serve as a trusted advisor to apartment-building owners and investors seeking opportunities in established and emerging submarkets.” One example of the firm’s commitment to seeing a deal
198 White Horse Pike, Collingswood, NJ
“Gebroe-Hammer has been fortifying its presence and deal velocity in the Greater Philadelphia/South Jersey
Metro for the past several years by demonstrating a unique ability to streamline transac- tions throughout the entire
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